Stock market today: Asian shares rise and the yen dips after Japan's ruling party loses majority

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Asian shares rose, as the yen dipped in the midst of political uncertainty after Japan’s ruling party lost its majority in Parliament’s lower house in weekend elections.

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Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Oct. 28, 2024. A currency trader works near a screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Oct. 28, 2024.

Tokyo stocks rose. Analysts say the ruling party defeat had been greatly expected and factored into markets from before. The S&P 500 closed little changed after having been up 0.9% earlier in the day. The Dow Jones Industrial Average fell 0.6% and also posted its first weekly loss after six straight gains. The Nasdaq composite rose 0.6%.

 

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