
PM Ishiba's future in question after election upset
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The Mainichi
22 minutes ago
- The Mainichi
Tokyo stocks drop for 3rd day amid Japan political uncertainty
TOKYO (Kyodo) -- Tokyo stocks ended lower Tuesday for a third consecutive trading day on selling amid political uncertainty in Japan and ahead of a U.S. monetary policy meeting and other key events. The 225-issue Nikkei Stock Average fell 323.72 points, or 0.79 percent, from Monday at 40,674.55. The broader Topix index finished 22.09 points, or 0.75 percent, lower at 2,908.64. On the top-tier Prime Market, decliners were led by transportation equipment, machinery and securities house issues. The U.S. dollar fluctuated in the 148 yen range in Tokyo without clear direction, amid a lack of new incentives. The stock market continued to face selling pressure by investors locking in gains after last week's surge on a Japan-U.S. trade agreement, with auto shares and heavyweight semiconductor-related issues notably falling. "Stocks fell as investors regained calmness about the trade deal that resulted in a 15 percent U.S. tariff (on Japanese imports) and political situations remaining very unclear" in Japan, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. Prime Minister Shigeru Ishiba insists on remaining in office despite calls within his party for him to step down following the ruling coalition's major setback in the latest national election. Investors were also cautious before major economic events later this week, including policy meetings of the U.S. and Japanese central banks as well as releases of earnings results and U.S. jobs data, brokers said.


NHK
22 minutes ago
- NHK
China's military moves in Indo-Pacific raise concern
Questions about the security situation in the Indo-Pacific are swirling due to moves by the Chinese military. A former senior advisor to the previous US secretary of defense tells NHK World what he thinks is driving Beijing's recent actions.


Japan Times
22 minutes ago
- Japan Times
Local governments not allocated state tax revenue increase for fourth year
The number of local governments able to operate their finances without tax allocations from the state thanks to their abundant tax revenues has increased for the fourth consecutive year, the internal affairs ministry said Tuesday. In fiscal 2025, such local governments totaled 85, up by two from the previous year, reflecting the growth of local tax revenues backed by robust corporate performance. On Tuesday, the ministry decided the amounts of fiscal 2025 ordinary tax allocations that will be given to respective local governments, with the aim of supplementing shortages in their financial resources. Internal affairs minister Seiichiro Murakami reported on the allocations at the day's Cabinet meeting. Of the country's 47 prefectures, Tokyo is the only one not to be given tax allocations. The remaining nonrecipients are cities, towns and villages. The town of Kikuyo in Kumamoto Prefecture, which hosts a plant operated by Taiwan Semiconductor Manufacturing, the world's leading semiconductor contract manufacturer, became a nonrecipient for the first time. Including Kikuyo, 10 local governments switched from receiving tax allocations to not receiving them, while eight municipalities that had not been recipients became recipients. The total amount of ordinary tax allocations will increase 1.6% from the previous fiscal year to ¥17,819.8 billion, which will be distributed to 1,680 local governments.