Japan's PM Abe resigning for health reasons

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Japan's PM Abe resigning for health reasons
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ICYMI: Japan's PM Abe resigning for health reasons

Abe said he is suffering a recurrence of the ulcerative colitis that forced him to cut short a first term in office, and that he no longer felt able to continue as prime minister.

The resignation shocked the markets, with Tokyo stocks plunging more than two percent towards the end of afternoon trade when reports of Abe's decision first emerged. Still, some potential successors have already emerged, among them Finance Minister Taro Aso, chief cabinet secretary Yoshihide Suga, former defence minister Shigeru Ishiba and LDP policy chief Fumio Kishida.

Abe's decision to step down will be bitterly familiar for the man who was forced to leave office just one year after becoming the country's youngest-ever prime minister.

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