Obuchi stocks on the rise

Business Asia, July 5, 1999

The approval rate for Japanese Prime Minister Mr Keizo Obuchi has risen on the back of positive economic data, climbing to a record high of nearly 50 per cent.

A survey by the Japanese newspaper Yomiuri Shimbun found that 49.8 per cent of respondents said they looked favourably on the Obuchi Government, the highest since Mr Obuchi took office last July. The number of respondents who viewed his government unfavourably fell to 34.8 per cent from 38.9 per cent in May.

The recent release of data showing Japan's gross domestic product (GDP) grew an annualised 7.9 per cent in the first quarter of this year and Mr Obuchi's participation in the G8 summit in Germany contributed to the rise, the Yomiuri said.

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