Market shocked over Ueda as next BOJ head, finance expertise cheered

Japanese markets expressed surprise Friday following reports that former Bank of Japan Policy Board member Kazuo Ueda is expected to be tapped as the central bank’s next governor, with analysts welcoming his background and expertise in finance.

Prime Minister Fumio Kishida also plans to present former Financial Services Agency chief Ryozo Himino and BOJ Executive Director Shinichi Uchida as new deputy governors to parliament next Tuesday, according to a source familiar with the matter.

The choice came out of the blue for financial markets, which viewed the bank’s Deputy Governor Masayoshi Amam...