Tokyo’s markets were mixed on Thursday, a day after Prime Minister Shinzo Abe resigned, citing health reasons.
Mr. Abe was hospitalized on Thursday for an undisclosed ailment.
While the Nikkei 225 gained 0.15 percent to 15,821.19, the Topix index dropped 0.35 percent to 1,522.87 and the Mothers market was down 3.03 percent to 628.83.
Stocks with ties to Mr. Abe’s most likely successor, Taro Aso, gained early in the session but were down by the end of the day.
Aso Foam Crete (TYO: 1730), a construction firm run by Mr. Aso’s family, was up 19 percent early but ended the session 3.8 percent lower to ¥375.
Used book store Mandarake (TYO: 2652), which had been much higher Wednesday on the strength of Mr. Aso’s reputed fondness for comic books, was 6 percent lower Thursday to ¥410,000.
More seriously, the banking sector was lower on reports that the government will cut its appraisal of the nation’s economy for September based on weak industrial production.
Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 2 percent to ¥1 million, while Sumitomo Mitusi (TYO: 8316) dropped 3.4 percent to ¥790,000.
The pharmaceuticals sector, however, was higher on the session.
Takeda Pharmaceutical (TYO: 4502) added 1.9 percent to ¥7,980, while Astellas Pharma (TYO: 4503) gained 2.7 percent to ¥5,340.
Both drug makers have spent billions of yen so far this year on stock buybacks and are expected to spend even more.