A currency trader reacts near a screen showing the Korea Composite Stock Price Index (KOSPI), (left), and the foreign exchange rate between US dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, on July 21. (AP)

BANGKOK, July 21, (AP): Asian shares are mixed and US futures have edged higher after US stocks logged their third straight winning week. Markets were closed for a holiday in Japan, where the ruling Liberal Democrats have lost their coalition majorities in both houses of parliament for the first time since 1955 following Sunday’s election and the loss of their lower house majority in October.

A grim Prime Minister Shigeru Ishiba has vowed to stay on, but the outcome of the upper house election reflects voters’ frustration with rising prices and political instability. Analysts said they expect his weakened government to crank up spending, adding to Japan’s huge debt burden. Japan is also facing the imposition of 25% tariffs across the board on its exports to the US as talks with the Trump administration appear to have made little headway.

“We expect short-term political instability to intensify due to the difficulties of forming a majority coalition, a likely change in leadership, and a potential deadlock in trade negotiations,” Peter Hoflich of BMI, a part of the Fitch Group, said in a commentary. “Without a structural reset through snap elections, Japan is likely to face prolonged policy drift throughout 2026,” he said.

Chinese shares advanced after the central bank kept its key 1-year and 5-year loan prime interest rates unchanged. Hong Kong’s Hang Seng rose 0.6% to 24,977.18, while the Shanghai Composite index gained 0.7% to 3,559.79. Recent improved economic data have eased pressure on the Chinese leadership to soften credit.

Meanwhile, President Donald Trump’s administration has softened its criticism of Beijing, raising hopes that the two sides can work out a trade deal and avert the imposition of sharply higher tariffs on imports from China. South Korea’s Kospi picked up 0.7% to 3,210.81 after the government reported a slight improvement in exports in June. In Australia, the S&P/ASX 200 shed 1% to 8,668.20, while Taiwan’s Taiex dropped 0.2%.

In India, the Sensex rose 0.4%. Bangkok’s SET gained 0.2%. This week will bring updates on U.S. home sales, jobless claims and manufacturing. Several Big Tech companies including Alphabet and Tesla are due to provide earnings reports. On Friday, the S&P 500 handed back less than 1 point after setting an all-time high the day before. The Dow Jones Industrial Average fell 0.3% and the Nasdaq composite edged up by less than 0.1% to add its own record.   

Chairman of the Directorate General of Civil Aviation Sheikh Hamoud Mubarak Al-Hamoud Al-Jaber Al-Sabah with His Excellency the Japanese Ambassador to Kuwait, Kenichiro Mukai.

KUWAIT CITY, July 21: Sheikh Hamoud Mubarak Al-Hamoud Al-Jaber Al-Sabah, Chairman of the Directorate General of Civil Aviation (DGCA), expressed Kuwait’s strong interest in deepening cooperation with Japan across various sectors of civil aviation, including training, aviation safety and security, and airport infrastructure development.

The remarks came during Sheikh Hamoud’s meeting with the Japanese Ambassador to Kuwait, H.E. Kenichiro Mukai, as part of ongoing efforts to bolster bilateral ties between the two countries.

According to a DGCA press statement, the meeting addressed key areas of joint cooperation and opportunities to benefit from Japan’s extensive experience and advanced technologies in the aviation industry.

Sheikh Hamoud highlighted the long-standing and friendly relations between Kuwait and Japan, emphasizing Japan’s leadership in aviation technology and its potential contribution to Kuwait’s civil aviation development.

In response, Ambassador Mukai expressed his gratitude for the warm welcome and reaffirmed Japan’s commitment to strengthening collaboration with Kuwait in the aviation sector, underscoring shared interests in innovation, safety, and sustainable growth.

Prices go up in Kuwait: Food, health, and clothes cost more.

KUWAIT CITY, July 20: Domestic inflation in Kuwait rose by 2.32 percent year-on-year (YoY) in June, according to data released by the Central Statistical Bureau (CSB) on Sunday.

The CSB also reported a 0.29 percent increase in the consumer price index (CPI) month-on-month for June compared to May.

The bureau attributed the annual inflation rise primarily to price increases across key sectors, especially food, health, clothing, and education — with the exception of transportation, which saw a decline.

Food and beverages prices surged by 5.11 percent in June compared to the same month last year. The prices of cigarettes and tobacco saw a slight increase of 0.07 percent. Clothing costs rose by 3.93 percent, while housing services increased by 0.98 percent. Home furnishings also recorded a notable inflation of 3.30 percent.

Health-related expenses climbed by 2.94 percent, whereas transportation costs dropped by 1.81 percent year-on-year. Communication services experienced a modest rise of 0.64 percent, and entertainment and culture expenses went up by 1.92 percent. Education costs increased by 0.71 percent.

The prices for restaurants and hotels rose by 1.94 percent annually, while miscellaneous goods and services recorded an inflation rate of 4.8 percent.

Excluding the food and beverages category, inflation in Kuwait stood at 1.69 percent year-on-year and 0.23 percent month-on-month in June.