Japan PM Abe to resign due to worsening health: Media

TOKYO - Japanese Prime Minister Shinzo Abe is set to resign due to his worsening health, local media reported on Friday .National broadcaster NHK said he wanted to avoid having his underlying medical condition from disrupting managing the government.Japan’s Topix index dropped as much as 1.6 per cent, while the yen rebounded from losses following the report.

The yen, considered a safe haven in times of uncertainty, rallied against the dollar, hitting 106.11 to the greenback, from 106.74. Speculation about Mr Abe's health and tenure had risen after he made two visits to a hospital recently, telling reporters that he was undergoing tests to maintain his health.

Although the government has provided few details, domestic media have said he was actually undergoing treatment for ulcerative colitis, a chronic digestive condition that forced him to step down as premier in 2007.

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