Asian shares rise as yen dips after Japan's ruling party loses majority

Asian shares rose on Monday as Japan's ruling party lost its majority in recent elections, creating political uncertainty. The yen weakened, with the U.S. dollar rising to 153.76 yen. Major Japanese exporters like Toyota and Nintendo saw stock gains. The ruling Liberal Democratic Party secured 215 seats, down from 279, following a scandal involving unreported campaign funding. Analysts noted that the party's defeat was anticipated and already reflected in market movements. Japan's Nikkei 225 index surged 1.6% in morning trading. In the U.S., stock indexes ended last week mixed, with the S&P 500 little changed. Company earnings reports have been mostly positive, while Treasury yields rose amid strong economic data. Energy prices fell, with U.S. crude dropping to $68.59 a barrel.