Asia stocks rise as M.East fears ease, Japan shrugs off election upset By

-- Most Asian stocks rose on ghc foreign exchange platformMonday as concerns over the Israel-Iran conflict were soothed by a less severe than feared attack by Israel, while Japanese shares rose past increased political uncertainty. 

Japanese markets were the best performers on Monday as the ruling Liberal Democratic Party lost its parliamentary majority, with investors betting that heightened political uncertainty will diminish the chances of more interest rate hikes by the Bank of Japan. 

Israel attacked Iran over the weekend, but avoided hitting Tehran’s oil and nuclear infrastructure, marking a less severe escalation in the long-running conflict. Most Asian markets rose on this notion, while oil prices slumped. 

Regional markets took middling cues from a mixed Friday close on Wall Street, with focus turning squarely to a string of key technology earnings and economic readings due this week. U.S. stock index futures rose in Asian trade, on optimism over the Middle East. 

Japanese shares rise as political uncertainty quashes rate hike bets 

Japan’s and indexes rose 1.5% and 1.2%, respectively.

A coalition led by the country’s ruling Liberal Democratic Party lost its parliamentary majority in an election held on Sunday, raising doubts over the political make-up of the country in the coming years, local media reports showed. 

The LDP will now have to seek alliances with smaller, regional parties, although such a scenario points to a more fractured economic climate in the country.

While such a scenario presents more uncertainty for Japanese markets, it also diminishes the ability of the BOJ to keep raising interest rates. The yen fell sharply on this notion, benefiting export-oriented stocks. 

The central bank is , and is widely expected to keep rates unchanged. 

Asian markets steady with tech earnings, econ. data on tap

Broader Asian markets mostly drifted higher on Monday, with focus turning to a barrage of key U.S. technology earnings this week, as well as major economic readings. 

Five of Wall Street’s “Magnificent Seven” are set to report this week, providing cues for broader equity markets.

Australia’s rose 0.1% ahead of key inflation data due later this week. South Korea’s added 0.6% as heavyweight technology stocks awaited more cues on the artificial intelligence trade. 

Chinese markets lagged, with the and indexes moving in a flat-to-low range. data from the country is due this week, coming at the heels of several stimulus measures outlined by Beijing over the past month.

Hong Kong’s index traded sideways. 

Futures for India’s index pointed to a positive open, with local stocks expected to see some bargain buying after clocking steep losses through October. More Indian earnings are also due in the coming days. 

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