Abe's ruling bloc on track for big election win, possible volatility in JPY

Japanese Prime Minister Shinzo Abe's ruling bloc was headed for a big win in Sunday's election, bolstering his chance of becoming the nation's longest-serving premier and re-energizing his push to revise the pacifist constitution.

Abe's Liberal Democratic Party-led (LDP) coalition has won a combined 310 seats, reaching a two-thirds "super majority" in the 465-member lower house, with 11 seats still up for grabs, broadcaster TV Asahi said.

A hefty win raises the likelihood that Abe, who took office in December 2012, will win a third three-year-term as LDP leader next September and go on to become Japan's longest-serving premier. It also means his "Abenomics" growth strategy centred on the hyper-easy monetary policy will likely continue.

Abe said he needed a new mandate to tackle a "national crisis" from North Korea's missile and nuclear threats and a fast-aging population. He called the poll amid confusion in the opposition camp and an uptick in his ratings, dented earlier in the year by suspected cronyism scandals.

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

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