Japan election, LDP loses majority, yen weakens

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Japan election, LDP loses majority, yen weakens

TOPSHOT – Officials look on as people vote during the general election at a polling station set up at a local school in Tokyo on October 27, 2024. Japan voted on October 27 in its tightest election in years, with new Prime Minister Shigeru Ishiba and his juggernaut ******** Democratic Party facing potentially their worst result since 2009. (Photo by Richard A. Brooks / AFP) (Photo by RICHARD A. BROOKS/AFP via Getty Images)

Richard A. Brooks | Afp | Getty Images

Futures for Japan’s benchmark Nikkei 225 were mixed Monday after the country saw the ruling ******** Democratic Party lose its majority in Japan’s lower house following elections on Sunday.

Public broadcaster 

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, with just one of the total 465 seats undeclared. The opposition Constitutional Democratic Party and the Democratic Party for the People have made significant gains in this election.

According to futures data, the Nikkei could go either way on its open, with the futures contract in Chicago at 37,640 and its counterpart in Osaka at 38,070, compared to the index’s last close of 37,913.92.

The yen weakened 0.43% to trade at 152.95 on Monday.

Separately, futures for Hong Kong’s Hang Seng index stood at 20,522, pointing to a slightly weaker open compared to the HSI’s close of 20,590.15.

Australia’s S&P/ASX 200 started the day marginally lower.

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