Japan's Incoming Prime Minister Shigeru Ishiba Calls Snap Election for October 27

Shigeru Ishiba has been elected as the leader of the Liberal Democratic Party (LDP) and is expected to call a general election for October 27, a year ahead of schedule. This decision comes after a close leadership race, with Ishiba ultimately emerging victorious. Following his approval as prime minister in parliament on Tuesday, Ishiba plans to appoint his cabinet later the same day. The snap election will determine which party controls the lower house of parliament. Japanese shares have fallen in response to the news, with a decline of over 4% in early trading on Monday.