Japan’s main equity index surged on Tuesday, fueled by hopes a snap election will boost stimulus spending. The Nikkei 225 closed above the 53,000 mark for the first time ever. Buying jumped at the opening following reports over the three-day weekend that Prime Minister Takaichi Sanae may dissolve the Lower House.
Finance Ministers of the Group of Seven countries and other nations have agreed to quickly take steps to diversify supply chains of critical minerals. That includes rare earth elements. The United States convened the meeting of finance chiefs, with Katayama Satsuki representing Japan. Ministers of Australia, Mexico, India and South Korea joined their G7 counterparts. The talks come as China increasingly asserts its dominant position in supplying key minerals.
The United States has condemned Russia for attacking Ukraine earlier this month with its latest intermediate-range ballistic missile.