Breaking: Fukuda Resigns

This morning at 8:30am, a hour and 45 minutes ago, and Tokyo time at 9:30pm, Japan's Prime Minister Yasuo Fukuda held a unscheduled press briefing and announced his immediate resignation. He disclosed that the decision was made over the weekend.

Fukuda's sudden resignation mimics his precedent Shinzo Abe's resignation last year, just before the Diet is opening for business. Too much pressure is speculated last time and this time.

Taro Abe, the next on the rank, will be a possible successor to Fukuda.

How it is going to impact Japan's economy and political future will be closely watched, especially at Tokyo stock exchange, which had another down day, Nikkei index dropped over 200 points.

Fukuda's resignation is also a blow to Washington, who is looking to Japan to renew the oil supply law to the U.S. navy ships in the ocean off the Afghan coast.