Japan ruling party's election win takes pressure off PM for bigger spending

Japan's Prime Minister Fumio Kishida, who is also the President of the ruling Liberal Democratic Party, raises his fist with the party's candidates atop the campaigning bus on the last day of campaigning for the October 31 lower house election, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan October 30, 2021. REUTERS/Issei Kato

TOKYO (Reuters) -The ruling party's solid victory in Japan's parliamentary election on Sunday will likely take pressure off Prime Minister Fumio Kishida to inflate the size of a pandemic-relief stimulus package, easing market fears of massive bond issuance.

Kishida has pledged to compile a fresh stimulus package worth "several tens of trillion yen" to cushion the economic blow from the COVID-19 crisis, but so far offered few details including the exact size of spending and how to pay for it.