Nikkei 225 futures trading in Singapore (SGX) opened down 260 points to 16,970, obviously reacting negatively to the LDP losing a majority of upper house seats and the uncertainty over both the future of the Abe administration (PM Shinzo Abe) and the overall economy. Japanese stocks are already oversold but can clearly go lower. Still, absolute Nikkei 225 downside is unlikely to be more than 10% and probably limited to about 5% to 7% (about 1,000 points).


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