Asian shares traded mixed Wednesday, as Japan’s benchmark perked but quickly ran out of steam from news the prime minister won’t seek re-election as head of the ruling party. Japan’s benchmark Nikkei 225 was down 0.1% in Wednesday morning trading. Shares were higher in Sydney and Seoul, but lower in Hong Kong and Shanghai.
FILE - A person walks in front of an electronic stock board showing Japan ’s Nikkei index at a securities firm in Tokyo, on July 16, 2024. FILE - A person walks in front of an electronic stock board showing Japan ’s Nikkei 225 index in Tokyo, on Aug. 2, 2024. FILE - A person walks in front of an electronic stock board showing Japan ’s Nikkei index at a securities firm in Tokyo, on July 16, 2024.
“We must show the Liberal Democratic Party will change. This will be the first step that will demonstrate that clearly,” Kishida said in announcing his decision. U.S. stocks rallied to one of their best days of the year after the first of several highly anticipated reports on the economy this week came in better than expected.
Treasury yields eased in the bond market following the inflation data, as traders remain convinced the Fed’s meeting next month will bring the first cut to interest rates since the COVID crash of 2020. The yield on the 10-year Treasury fell to 3.84% from 3.91% late Monday. Starbucks soared 24.5% after it convinced Brian Niccol to leave his job as CEO of Chipotle Mexican Grill to take over the coffee chain. Chipotle, meanwhile, dropped 7.5%. Niccol has been its chief executive since 2018 and its chairman since 2020, and he helped its stock rise more than 240% for the five years through Monday.
Financial Markets Fumio Kishida General News F World News Business Japan Government Japan Junichiro Koizumi I World News
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