World markets are mixed and Japan’s shares dip after election leaves Ishiba’s future in doubt
BANGKOK AP World shares were mixed on Tuesday after U S stock indexes inched to more records at the start of a week of profit updates from big U S companies Germany s DAX lost to and the CAC in Paris gave up to Britain s FTSE was nearly unchanged at The future for the S P lost while that for the Dow Jones Industrial Average was unchanged In Asian trading Japan s benchmark surged and then fell back as it reopened from a holiday Monday following the ruling coalition s loss of its upper house majority in Sunday s voting The Nikkei shed to Analysts explained the industry initially climbed as investors were relieved that Prime Minister Shigeru Ishiba vowed to stay in office despite the setback But the voting process s outcome has added to political uncertainty and left his ruling body without the heft needed to push through decree A breakthrough in business talks with the U S might win Ishiba a reprieve but so far there s been scant sign of progress in negotiating away the threat of higher tariffs on Japan s exports to the U S beginning Aug Relief may be fleeting Ishiba s claim to leadership now rests on political duct tape and history isn t on his side The last three LDP leaders who lost the upper house didn t last two months Stephen Innes of SPI Asset Management noted in a commentary Elsewhere Hong Kong s Hang Seng rose to while the Shanghai Composite index advanced to South Korea s Kospi sank to with investors concerned over the Aug deadline for making a deal with U S President Donald Trump or facing tariffs on all the country s exports to the U S Australia s S P ASX added to India s Sensex was flat In Thailand the SET sank after the administration named Vitai Ratanakorn as the new future governor of the central bank He is viewed as likely to be less independent than the current governor raising concerns about the bank s independence analysts noted Vitai will replace Sethaput Suthiwartnarueput when his term as governor ends in September A multitude of of Trump s stiff proposed tariffs are paused after he extended the deadline for talks to allow more time to reach prospective business deals that could lower those rates Aug is the next big deadline at least for now U S stock indexes inched their way to more records on Monday to kick off a week full of profit updates from big U S companies General Motors will assessment its latest profit results later this week along with such area heavyweights as Alphabet Coca-Cola and Tesla The S P rose and squeaked past its prior all-time high set on Thursday The Dow edged down less than and the Nasdaq composite added to its own record Verizon Communications helped lead the way and rose The telecom giant revealed a stronger profit and higher revenue for the latest quarter than expected and raised its forecasts for the full year That helped offset a drop for Sarepta Therapeutics which continued to fall after the Food and Drug Administration stated on Friday that it solicited the company to voluntarily stop all shipments of Elevidys its gene therapy for Duchenne muscular dystrophy due to safety concerns Cleveland-Cliffs rallied after the steel producer disclosed a smaller loss for the spring than analysts expected It s a major supplier to the auto industry and Trump s tariffs steer companies hoping to sell cars in the United States toward steel made in the country In other dealings early Tuesday U S benchmark crude oil lost cents to per barrel while Brent crude the international standard gave up cents to per barrel The U S dollar rose to Japanese yen from yen The euro gained to from Source
