Stock market today: Asian shares rise and the yen dips after Japan's ruling party loses majority

TOKYO -- Asian shares roseate Monday, arsenic nan yen dipped successful nan midst of governmental uncertainty aft Japan's ruling statement mislaid its mostly successful Parliament's little location successful play elections.

In rate trading, nan U.S. dollar roseate to 153.76 Japanese yen from 152.24 yen. It was trading astatine 140-yen levels past month. The euro costs $1.0796, down shape $1.0803.

The anemic yen is simply a boon for Japan's elephantine exporters for illustration Toyota Motor Corp., whose banal gained 3.7% successful Tokyo trading. Nintendo Co. gained 2.6%, while Sony Corp. roseate astir 2.0%.

Japan's ruling Liberal Democratic Party is still nan apical party, but respective members grounded to triumph reelection successful Sunday's ballot aft a ungraded involving unreported run funding.

All told, nan ruling conjugation pinch inferior partner Komeito secured 215 seats, down sharply from nan mostly of 279 it antecedently held, according to Japanese media. A alteration of authorities is not expected but nan LDP whitethorn request a 3rd conjugation partner.

Tokyo stocks rose. Analysts opportunity nan ruling statement conclusion had been greatly expected and factored into markets from before.

Japan's benchmark Nikkei 225 surged 1.6% successful greeting trading to 38,527.52. Australia's S&P/ASX 200 gained astir 0.1% to 8,217.80. South Korea's Kospi edged up 0.6% to 2,598.73. Hong Kong's Hang Seng added 0.1% to 20,614.74, while nan Shanghai Composite roseate 0.3% to 3,310.63.

On Wall Street, U.S. banal indexes vanished past week, drifting to a mixed finish, giving nan marketplace its first losing week since early September.

The S&P 500 closed small changed aft having been up 0.9% earlier successful nan day. The Dow Jones Industrial Average fell 0.6% and besides posted its first play nonaccomplishment aft six consecutive gains. The Nasdaq composite roseate 0.6%.

Company net reports, which person been mostly solid, proceed to beryllium a cardinal attraction for investors. More than a 3rd of nan companies successful nan S&P 500 scale person reported their latest quarterly financial results. Most of nan results person hit analysts' forecasts. Companies from astir nan world are scheduled to study net successful coming weeks.

Treasury yields ended past week broadly higher. The output connected nan 10-year Treasury roseate to 4.24% Friday from 4.21% precocious Thursday.

Yields person mostly climbed pursuing reports showing nan U.S. system remains stronger than expected. Wall Street will person much updates adjacent week connected user confidence, jobs and inflation.

The Fed raised its benchmark liking complaint to its highest level successful 2 decades successful an effort to tame ostentation backmost to 2%, without sinking nan system into a recession.

A cardinal study connected U.S. user spending is expected later this week, called nan PCE. Analysts expect it to show that nan complaint of ostentation has eased to 2%. The cardinal slope started cutting liking rates successful September and economists expect different trim astatine its gathering successful November.

Russia’s cardinal slope connected Friday raised its cardinal liking complaint by 2 percent points to a record-high 21%. Moscow is trying to combat increasing ostentation sparked by subject spending aft its invasion of Ukraine.

In power trading, benchmark U.S. crude fell $3.19 to $68.59 a barrel. Brent crude, nan world standard, fell $3.25 to $72.80 a barrel.

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AP Business Writers Damian J. Troise and Alex Veiga contributed to this report.

Yuri Kageyama is connected X: https://x.com/yurikageyama