Japan's Parliament has elected Shigeru Ishiba, the new leader of the ruling liberal Democratic Party (LDP), as the country's prime minister. Former Prime Minister Fumio Kishida stepped down earlier in the day to make way for the new leader.

Advocate of 'Asian Nato' to counter China who also seeks more balanced US ties could ruffle feathers on either side of Pacific, analysts say Shigeru Ishiba, in line to become Japan's next prime minister,

MSCI's global equities index fell on Monday and the dollar rose as the Federal Reserve Chair Jerome Powell dampened hopes for another big rate cut, while oil futures ended flat after a choppy session on concerns about an escalating conflict in the Middle East.