World markets are mixed and Japan's shares dip after election leaves
Ishiba's future in doubt
[July 22, 2025] By
ELAINE KURTENBACH
BANGKOK (AP) — World shares were mixed on Tuesday after U.S. stock
indexes inched to more records at the start of a week of profit updates
from big U.S. companies.
Germany's DAX lost 0.9% to 24,086.56 and the CAC 40 in Paris gave up
0.6% to 7,753.96. Britain's FTSE 100 was nearly unchanged at 9,015.35.
The future for the S&P 500 lost 0.1% while that for the Dow Jones
Industrial Average was unchanged.
In Asian trading, Japan’s benchmark surged and then fell back as it
reopened from a holiday Monday following the ruling coalition's loss of
its upper house majority in Sunday's election.
The Nikkei 225 shed 0.1% to 39,774.92.
Analysts said the market initially climbed as investors were relieved
that Prime Minister Shigeru Ishiba vowed to stay in office despite the
setback. But the election's outcome has added to political uncertainty
and left his government without the heft needed to push through
legislation.
A breakthrough in trade talks with the U.S. might win Ishiba a reprieve,
but so far there's been scant sign of progress in negotiating away the
threat of higher tariffs on Japan's exports to the U.S. beginning Aug.
1.
“Relief may be fleeting. Ishiba’s claim to leadership now rests on
political duct tape, and history isn’t on his side. The last three LDP
leaders who lost the upper house didn’t last two months,” Stephen Innes
of SPI Asset Management said in a commentary.
Elsewhere, Hong Kong's Hang Seng rose 0.5% to 25,130.03, while the
Shanghai Composite index advanced 0.6% to 3,581.86.
South Korea's Kospi sank 1.3% to 3,169.94, with investors concerned over
the Aug. 1 deadline for making a deal with U.S. President Donald Trump
or facing 25% tariffs on all the country's exports to the U.S.
Australia's S&P/ASX 200 added 0.1% to 8,677.20.
India's Sensex was flat.
In Thailand, the SET sank 1.1% after the government named Vitai
Ratanakorn as the new future governor of the central bank. He is viewed
as likely to be less independent than the current governor, raising
concerns about the bank's independence, analysts said.
Vitai will replace Sethaput Suthiwartnarueput, when his term as governor
ends in September.
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Maintenance workers repair an electronic board of financial indexes,
at a securities firm Tuesday, July 22, 2025, in Tokyo. (AP
Photo/Eugene Hoshiko)
 Many of Trump’s stiff proposed
tariffs are paused after he extended the deadline for talks to allow
more time to reach potential trade deals that could lower those
rates. Aug. 1 is the next big deadline, at least for now.
U.S. stock indexes inched their way to more records on Monday to
kick off a week full of profit updates from big U.S. companies.
General Motors will report its latest profit results later this
week, along with such market heavyweights as Alphabet, Coca-Cola and
Tesla.
The S&P 500 rose 0.1% and squeaked past its prior all-time high set
on Thursday. The Dow edged down less than 0.1% and the Nasdaq
composite added 0.4% to its own record.
Verizon Communications helped lead the way and rose 4%. The telecom
giant reported a stronger profit and higher revenue for the latest
quarter than expected and raised its forecasts for the full year.
That helped offset a 5.4% drop for Sarepta Therapeutics, which
continued to fall after the Food and Drug Administration said on
Friday that it asked the company to voluntarily stop all shipments
of Elevidys, its gene therapy for Duchenne muscular dystrophy, due
to safety concerns.
Cleveland-Cliffs rallied 12.4% after the steel producer reported a
smaller loss for the spring than analysts expected. It’s a major
supplier to the auto industry, and Trump’s tariffs steer companies
hoping to sell cars in the United States toward steel made in the
country.
In other dealings early Tuesday, U.S. benchmark crude oil lost 67
cents to $65.28 per barrel, while Brent crude, the international
standard, gave up 65 cents to $68.56 per barrel.
The U.S. dollar rose to 147.55 Japanese yen from 147.38 yen. The
euro gained to $1.1701 from $1.1696.
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