Japan's stock futures showed mixed results following a closely contested election where the ruling Liberal Democratic Party lost its majority in the lower house, securing 214 of 465 seats. The yen weakened to 152.95, while futures for the Nikkei 225 indicated potential volatility at the market open. Meanwhile, the Hang Seng index futures pointed to a slightly weaker start, and Australia's S&P/ASX 200 began the day marginally lower.
Japan's Liberal Democratic Party (LDP) is projected to lose its parliamentary majority in the recent snap election, with exit polls indicating it may fall short even with its coalition partner, Komeito. The LDP, led by Prime Minister Shigeru Ishiba, faces challenges from rising inflation and internal corruption scandals, while opposition parties like the Constitutional Democratic Party and the Democratic Party for the People are expected to gain seats. If the predictions hold, this would mark the first loss of majority for the LDP since 2009.
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