Japanese prime minister Shinzo Abe has resigned due to ill health. Mr Abe has battled the disease ulcerative colitis for years and said his health had declined around the middle of last month. Two recent hospital visits within a week fanned questions on whether he could stay in the job until the end of his term as ruling party leader, and hence, premier, in September 2021. In a news conference the 65-year-old PM said: “I cannot be prime minister if I cannot make the best decisions for the people. I have decided to step down from my post.” He also apologised to citizens from the bottom of his heart for not being able to fulfil his duties. The resignation will trigger a leadership race in the Liberal Democrat Party (LDP), the winner of which must be formally elected in parliament. The new party leader will hold the post for the rest of the PM’s term. As news of the announcement spread, Japan’s benchmark Nikkei average fell 2.12% to 22,717.02, while the broader Topix shed 1% to 1,599.70. The selling wiped $4.7bn off Tokyo’s $5.7trn stock market value, which had more than doubled during Mr Abe’s tenure. The conservative Mr Abe … Continue reading Shinzo Abe: Japan’s PM resigns due to ill health