By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Asian markets increase and Japanese yen weakens as ruling party loses majority
Share
Notification Show More
Latest News
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > World > Asian markets increase and Japanese yen weakens as ruling party loses majority
World

Asian markets increase and Japanese yen weakens as ruling party loses majority

News Room
Last updated: 2024/10/28 at 9:35 PM
News Room
Share
3 Min Read
SHARE

Asian shares saw a boost on Monday, with the yen weakening as Japan’s ruling party lost its majority in Parliament’s lower house in weekend elections. The US dollar rose to 153.40 Japanese yen, up from 152.24 yen, benefiting Japan’s giant exporters. The ruling Liberal Democratic Party is still the top party, but the weak yen reflects political uncertainty in the country. The ruling coalition will need a third partner after Sunday’s vote. Despite the political shakeup, Tokyo stocks rose, with the Nikkei 225 surging 2.0%, indicating that the ruling party’s defeat had already been anticipated and priced into the markets.

In the US, stock indexes had a mixed finish last week, with the S&P 500 closing little changed. Company earnings reports continue to be a focus for investors, with most results exceeding analyst forecasts. Treasury yields ended the week higher, reflecting a stronger than expected US economy. The Fed raised its benchmark interest rate to its highest level in two decades as part of efforts to control inflation. Russia also raised its key interest rate to a record-high of 21% to combat inflation following the invasion of Ukraine.

In currency trading, the euro fell to $1.0794 from $1.0803, while the US dollar strengthened against the Japanese yen. This helped boost shares of Japanese exporters like Toyota Motor Corp., Nintendo Co., and Sony Corp. The ruling party in Japan, the Liberal Democratic Party, remains the top party despite losing seats in Parliament. The market’s response to the ruling party’s loss indicates that investors had already priced in this outcome, with Tokyo stocks rising following the election results.

On Wall Street, stock indexes closed mixed last week, with the S&P 500 finishing little changed. Company earnings reports have largely exceeded expectations, driving investor focus. Treasury yields ended the week higher as data showed a strong US economy. The Fed’s efforts to control inflation include raising its benchmark interest rate, with expectations of further cuts to come. These economic developments come against a backdrop of global political uncertainty, including Russia’s record-high interest rate increase to combat inflation.

Energy trading saw a decline in benchmark US crude, which fell to $68.40 a barrel, while Brent crude dropped to $72.57 a barrel. These price movements reflect fluctuations in the energy market, influenced by factors such as geopolitical tensions. The impact of political uncertainty, economic developments, and global events on energy markets highlights the interconnected nature of financial markets. As investors navigate these changing conditions, they must consider both domestic and international factors that can affect their investment decisions.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room October 28, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article ‘Times of Oman hosts Business Leadership Summit that attracts top corporate leaders’
Next Article NHRC hosts first ever business and human rights dialogue in the Arab region
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle July 14, 2025
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025

You Might also Like

World

Beat the Heat This Summer with a Chill Out on Dubai Marina

July 1, 2025
World

Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”

June 28, 2025
SportsWorld

Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember

May 22, 2025
LifestyleWorld

Moscow Metro Marks 90 Years with Technological Advancements and Heritage Events

May 19, 2025
World

KoçSistem Participates in LEAP Expo as a Leading Tech Brand from Türkiye

February 18, 2025
World

Gunmen murder three Israelis in attack on West Bank bus

January 6, 2025
World

Video: January 6th Midday Latest News Bulletin

January 6, 2025
World

Video: Latest Updates | January 6th Morning News Bulletin

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?