Japan’s stocks slump after prime minister election; Shanghai benchmark soars more than 5% ...Middle East

Associated Press HONG KONG (AP) — Asian markets had a wild start to the week, with Tokyo’s Nikkei 225 index tumbling nearly 5% while Chinese markets soared on news of fresh stimulus for the faltering economy. Japanese shares sank after the ruling Liberal Democrats chose former Defense Minister Shigeru Ishiba to succeed Prime Minister Fumio Kishida, who is due to step down on Tuesday. Ishiba has expressed support for the Bank of Japan’s moves to raise interest rates from their near-zero level. He also backs other policies, such as possibly raising corporate taxes, that are seen as less market friendly than his chief rival for the top job, Economic Security Minister Sanae Takaichi, who

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Japan’s stocks slump after prime minister election; Shanghai benchmark soars more than 5% ...Middle East

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