Global Markets React to French Political Shakeup and Japanese Leadership Shift
Global stocks have been impacted by significant political events, with the French government collapse surprising markets and Japan's new leadership stirring trades. Sebastien Lecornu's resignation as French PM caused market ripples, while Japan's Nikkei surged after the election of Sanae Takaichi as the ruling party's leader, sparking fiscal policy expectations.
Global stock markets showed resilience on Monday, recovering after a sudden downturn triggered by the unexpected collapse of the French government. The resignation of new French Prime Minister Sebastien Lecornu, just 14 hours after forming his cabinet, took investors by surprise, leading to a market reshuffle.
European markets saw mixed results; while the STOXX 600 index rose by 0.13%, France's CAC 40 fell by 1.2%. In the U.S., S&P 500 futures increased by 0.3% ahead of market opening. Meanwhile, tech shares in Europe experienced a minor uptick following AMD's AI chip deal with OpenAI, indicating the sustained enthusiasm for AI technologies.
In Asia, Japan's Nikkei soared to unprecedented heights, driven by anticipation of economic growth, as fiscal and monetary dove Sanae Takaichi emerged victorious in the ruling party leadership vote, poised to become the nation's first female prime minister. Her election has amplified expectations for fiscal stimulus and market-friendly policies.
(With inputs from agencies.)
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