Japanese Prime Minister Fumio Kishida on Monday prepared to tackle major policy decisions, including trying to pass an extra budget, after leading his ruling party to an unexpectedly strong election win to solidify his status in a fractious party.

Stocks surged to a one-month high on relief the Liberal Democratic Party (LDP) held onto its single-party majority in defiance of predictions. Kishida has hewed to traditional policies of the party’s right wing, pushing to increase military spending.

He has also promised to address wealth inequality, touting a “new capitalism” as the world’s third-largest economy struggles to rebound from the coronavirus pandemic.

Source: VOV5