Tashkent, Uzbekistan (UzDaily.com) -- Japanese Prime Minister Shinzo Abe said on Friday that he had decided to resign due to poor health. Abe’s departure promises a sudden end to his policies called Abenomics, which combine aggressive monetary and fiscal stimulus.

“I cannot be prime minister if I cannot make the best decisions for the people. I decided to step down,” said 65-year-old Abe at a press conference.

Rumors of Abe’s deteriorating health have intensified after he recently visited the hospital twice, Reuters reported. Abe has been fighting chronic ulcerative colitis for many years.

Japanese stocks on Friday fell at their highest in nearly a month following news of Abe’s likely departure.

On Monday, Abe broke the record for longest tenure set by his great-uncle Eisaku Sato half a century ago.