The Tokyo Tower is located in a building at dusk in Tokyo, Japan.
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The Asia-Pacific market was mostly traded on Monday as investors assessed the announcement of the Japanese Prime Minister’s resignation over the weekend and China’s export data.
Japanese benchmark Nikkei 225 It closed at 43,643.81, up 1.45% after the Prime Minister’s statement. Topix rose 1.06% and closed at a record high of 3,138.2.
Nishimura Oshima, the Minister of Agriculture and son of the former Prime Minister, is the head of Japan for Moody’s analysis and believes he is likely to steer the economics of the frontier market. Meanwhile, in last year’s party contest, the countryside of Rev. Aso, a pupil of the late Prime Minister Shinzo, is also an important candidate.
Comgest portfolio manager Richard Kaye said the “very positive reaction” in the market on Monday was “a bit surprising,” but it “reflects the excitement surrounding Ono and Takano.”
Kaye pointed out that potential successor Kochi is keen on deregulation and not much to raise interest rates, but “a candidate for promoting growth and she will justify today’s market gathering.”
The Japanese yen fell 0.64% against the greenback to 148.33, and Japanese bonds continued to sell.
Japan’s 30-year bond yield rose to 3.272% on four basis points after hitting a record high last Wednesday, surpassing 100 basis points this year. The 20-year debt yield is over 3 basis points at 2.676%.
The Japanese government’s bond yields are gaining new highs as prices for sustained inflation, stricter monetary policy, and fiscal uncertainty.
“Currently, Japan is set to an extended period of uncertainty entering the fourth quarter of 2025,” wrote analysts at BMI, a unit of Fitch Solutions. “The next LDP leader will usually be automatically prime ministers, but in theory, the opposition could unite under the prime minister’s rival candidate.”
Korea’s Kospi rose 0.45% to close at 3,219.59, while the small Kosdaq jumped to 0.89% to 818.6.
Hong Kong’s Hangsen index rose 0.8%, and mainland CSI 300 closed at 4,467.57 after China’s August exports rose 4.4% more than expected in the US dollar terms compared to the previous year. Reuters met economists had estimated an increase of 5.0%. And among other factors, including a sustained real estate recession and job instability, imports were less than expected.
Australian benchmark S&P/ASX 200 lost 0.24% to close trading date at 8,849.6.
India’s Nifty 50 The Sensex Index rose 0.34% and rose 0.44%.
Oil prices have risen after OPEC+ announced it over the weekend. This will lift oil production again from October, but the group is slowing down the pace of its hikes. At an online meeting on Sunday, eight OPEC+ members agreed to increase 137,000 barrels a day from October to 137,000 barrels a day. It was well below the increase of around 555,000 bpd in September and August and 411,000 bpd in July and June.
Global Benchmark Brent added 0.53% to $62.2 per barrel, while U.S. West Texas midterm futures traded 0.6% higher at $65.89 per barrel.
US stock futures remained little different as investors prepared for a week filled with data that included two detailed measurements of inflation. The August producer price index report is scheduled to be published in the state on Wednesday morning, followed by the consumer price index on Thursday.
Last Friday, all three major US averages last week, with employment reports weaker than expected, giving way to worry about slowing the economy despite solidifying expectations for federal cuts.
The S&P 500 fell 0.32% at 6,481.50, but Nasdaq composites fell 0.03% to 21,700.39. The Dow Jones industrial average closed at 45,400.86 at 220.43 points (0.48%).
All three major indices reached new record highs early in Friday’s session. At its peak, the broad market index, the high-tech Nasdaq and Blue Chip Dow rose by around 0.5%, 0.8% and 0.3%, respectively.
– CNBC’s Brian Evans and Sean Conlon contributed to this report.
