Asian markets mixed as political uncertainty in Japan weighs on stocks; US indexes reach new highs

Asian markets showed mixed results Tuesday after U.S. stocks hit fresh records. Japan’s Nikkei 225 fell 0.3% as political uncertainty grew following Prime Minister Shigeru Ishiba’s weakened position after his coalition lost its upper house majority.

While Ishiba vowed to stay in office, analysts warn his leadership is fragile. “The last three LDP leaders who lost the upper house didn’t last two months,” noted SPI Asset Management’s Stephen Innes.

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Elsewhere, Hong Kong and Shanghai edged up 0.3%, while South Korea’s Kospi dropped 1.4% amid U.S. tariff concerns. Australia’s market was flat.

U.S. stocks edge higher
The S&P 500 and Nasdaq closed at new highs Monday, lifted by strong earnings from Verizon (+4%). Block surged 7.6% after joining the S&P 500, while Sarepta Therapeutics fell 5.4% on FDA safety concerns.

Oil and currency moves
Oil prices dipped, with U.S. crude at $65.24 a barrel. The dollar strengthened slightly against the yen and euro.