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Japan elections a wild card for Nikkei
Japanese stocks are hovering at fresh seven-year highs as investors ignored a sovereign debt ratings downgrade by Moody's to focus on a slumping yen, but analysts say further upside could be limited as markets gear up for the national elections in two weeks. According to Kenji Shiomura, Daiwa's senior equity strategist, a poor attendance by voters could knock the wind out of Nikkei's rally as investors see it as a sign that voters aren't backing Prime Minister Shinzo Abe's economic policies. "I don't see any major upside - turnout is expected to be at a historical low, and the markets will take that as a sign that ... (full story)