Japanese PM to stay on to tackle challenges such as US tariffs despite key election loss
Ishiba's ruling Liberal Democratic Party and its junior coalition partner Komeito were short three seats to maintain a majority in the 248-seat upper house in Sunday's vote. The coalition is now a minority in both houses of the Diet, or parliament, though the LDP is still the leading party.
Ishiba said he takes the result seriously but that his priority is to avoid creating a political vacuum and to tackle impending challenges, including the Aug. 1 deadline for a tariff deal with the U.S.
The prime minister said he hopes to reach a mutually beneficial deal and meet U.S. President Donald Trump.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Canada News.Net
33 minutes ago
- Canada News.Net
Wall Street splits, Dow dips 19 poin ts, broader markets hit records
NEW YORK, New York - Earnings took center-stage Monday driving up stock prices, with the Standard and Poor's 500 and Nasdaq Composite piercing new upper levels. The Dow Jones ndex however dipped. "Rarely do you injure yourself falling out of a basement window. With expectations so low in earnings, I think that the end result will end up being better than anticipated," Sam Stovall, chief investment strategist at CFRA Research,told CNBC Monday. "That is encouraging for the market as well." U.S. Market Highlights S&P 500 (^GSPC) Closed at 6,305.60, up 8.81 points or 0.14 percent Trading volume: 2.624 billion shares The broad index edged higher, led by consumer discretionary and tech stocks. Dow Jones Industrial Average (^DJI) Finished at 44,323.07, down 19.12 points or 0.04 percent Trading volume: 437.642 million shares Weakness in financial and industrial stocks weighed on the blue-chip index. Nasdaq Composite (^IXIC) Surged to 20,974.17, gaining 78.52 points or 0.38 percent Trading volume: 11.124 billion shares Big Tech continued its rally ahead of this week's earnings reports. Forex Markets See Euro and Pound Rally While Yen Strengthens Against U.S. Dollar Monday's foreign exchange session saw the euro and British pound extend gains against the U.S. dollar, while the Japanese yen posted its strongest daily advance in weeks despite the outcome of Sunday's elections. Key Currency Movements EUR/USD (Euro / US dollar) Rate: 1.1694 (+0.01) Daily Change: +0.59 percent The euro continued its upward momentum as ECB officials signaled patience on rate cuts. USD/JPY (US dollar / Japanese yen) Rate: 147.30 (-1.49) Daily Change: -1.00 percent The yen advanced as Sunday's election result was built-in.. GBP/USD (British pound / US dollar) Rate: 1.3487 (+0.01) Daily Change: +0.59 percent Sterling gained as UK inflation concerns delayed Bank of England easing expectations. USD/CAD (US dollar / Canadian dollar) Rate: 1.3685 (-0.00) Daily Change: -0.24 percent The loonie held steady as oil prices offset broader USD weakness. USD/CHF (US dollar / Swiss franc) Rate: 0.7981 (-0.00) Daily Change: -0.38 percent The franc benefited from safe-haven flows amid Middle East tensions. Commodity Currencies AUD/USD: 0.6524 (+0.00, +0.32 percent) NZD/USD: 0.5971 (+0.00, +0.27 percent) Both antipodean currencies edged higher despite China growth concerns. Market Drivers Trading was dominated by: Shifting central bank expectations (BOJ, Fed, ECB) Geopolitical tensions supporting safe havens Commodity price stabilization Outlook With critical U.S. GDP and PCE data due this week, analysts warn of potential increased volatility across major currency pairs. The yen's momentum will be closely watched ahead of Friday's Tokyo CPI print. Global Stocks Markets Close Mixed on Monday; Asia and Europe Show Divergent Trends Global stock markets delivered a mixed performance on Monday, with gains in some key Asian and European indices offset by declines in others. Investors weighed economic data and corporate earnings as trading sessions wrapped up across major financial hubs. Canadian Market Update S&P/TSX Composite (^GSPTSE) Closed at 27,317.00, up 2.99 points or 0.01 percent Trading volume: 217.735 million shares The energy sector offset losses in materials as oil prices stabilized. UK and Europe: FTSE Rises, CAC 40 Slips In the United Kongdom, the FTSE 100 (^FTSE) edged higher, closing at 9,012.99, up 20.87 points or 0.23 percent, supported by gains in energy and financial stocks. In Europe, Germany's DAX (^GDAXI) also saw a modest increase, finishing at 24,307.80, a rise of 18.29 points or 0.08 percent. However, France's CAC 40 (^FCHI) dipped 24.45 points or 0.31 percent to 7,798.22, while the broader EURO STOXX 50 (^STOXX50E) fell 16.25 points or 0.30 percent to 5,342.98. Belgium's BEL 20 (^BFX) bucked the trend, climbing 9.69 points or 0.21 percent to 4,554.08. Asia and Pacific: Mixed Movements Amid Earnings Season Asian markets were largely positive, with Hong Kong's Hang Seng Index (^HSI) jumping 168.48 points or 0.68 percent to 24,994.14. Singapore's STI Index (^STI) gained 17.63 points or 0.42 percent, closing at 4,207.13. In China's, the SSE Composite ( added 25.31 points or 0.72 percent to 3,559.79. Japan's Nikkei 225 (^N225) dipped 82.09 points or 0.21 percent to 39,819.11. Australia's S&P/ASX 200 (^AXJO), however, dropped sharply by 89.00 points or 1.02 percent to 8,668.20, while the All Ordinaries (^AORD) fell 80.60 points or 0.89 percent to 8,926.20. New Zealand's S&P/NZX 50 (^NZ50) climbed 81.11 points or 0.63 percent to 12,961.51. India's S&P BSE SENSEX (^BSESN) rose 442.62 points or 0.54 percent to 82,200.34, and Indonesia's IDX Composite (^JKSE) surged 86.28 points or 1.18 percent to 7,398.19. Other Key Markets South Korea's KOSPI (^KS11) advanced 22.74 points or 0.71 percent to 3,210.81. Taiwan's TWSE (^TWII) slipped 42.57 points or 0.18 percent to 23,340.56. Middle East Israel's TA-125 (^ gained 28.69 points or 0.93 percent to 3,117.36. Egypt's EGX 30 (^CASE30) rose 58.60 points or 0.17 percent to 34,129.60. Africa South Africa's Top 40 USD (^ increased 49.73 points or 0.90 percent to 5,577.38. Market Outlook Analysts noted that trading sentiment remained cautious amid geopolitical tensions and anticipation of central bank policy decisions. With earnings season in full swing, corporate results are expected to drive further volatility in the coming sessions.
Toronto Star
33 minutes ago
- Toronto Star
Trump ‘caught off guard' by recent Israeli strikes, White House says
WASHINGTON (AP) — President Donald Trump was 'caught off guard' by the recent Israeli strikes in Syria and on a Catholic church in Gaza, White House press secretary Karoline Leavitt said Monday.
Winnipeg Free Press
33 minutes ago
- Winnipeg Free Press
Trump ‘caught off guard' by recent Israeli strikes, White House says
WASHINGTON (AP) — President Donald Trump was 'caught off guard' by the recent Israeli strikes in Syria and on a Catholic church in Gaza, White House press secretary Karoline Leavitt said Monday. Her comments were a rare suggestion of daylight between Trump and Israeli Prime Minister Benjamin Netanyahu, who have often been aligned on politics and foreign policy, particularly with the recent attacks on Iran's nuclear program. However, Trump is pushing for an end to the war in Gaza and trying to support the new Syrian government as the country emerges from years of civil war, and Israeli military operations have threatened to complicate those initiatives. An Israeli attack last week hit the Gaza Strip's only Catholic church, killing three people and stirring outrage. In addition, Israel intervened during the latest outbreak of sectarian violence in Syria, even bombing the capital, Damascus. Leavitt told reporters that Trump has 'a good working relationship' with Netanyahu but 'he was caught off guard by the bombing in Syria and also the bombing of a Catholic church in Gaza.' 'In both accounts, the president quickly called the prime minister to rectify those situations,' Leavitt said. Trump's special envoy to Syria, Tom Barrack, told The Associated Press that Israel's intervention in Syria 'creates another very confusing chapter' and 'came at a very bad time.'
