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Pro-Nuclear Conservative Party in Japan Wins Election

Dec 17, 2012
(AFP)

Fukushima operator TEPCO shares soared almost 33 percent Monday, leading an energy firm rally after a pro-nuclear election win in Japan likely means any short-term plan to ditch atomic power will be shelved.

Tokyo Electric Power (TEPCO) rocketed 32.89 percent to 202 yen by the close, Chubu Electric Power jumped 9.59 percent to 1,188 yen and Kansai Electric was up 17.64 percent at 920 yen.

The huge surge on the Tokyo Stock Exchange came after voters on Sunday dumped Prime Minister Yoshihiko Noda and his Democratic Party of Japan (DPJ), giving the pro-business Liberal Democratic Party a landslide victory.

Anti-nuclear sentiment has run high in Japan after last year's Fukushima atomic crisis, with opinion polls showing a majority of voters wanted to phase out nuclear power.