Japanese markets slump on coalition government collapse

Japanese markets led regional losses after the coalition government collapsed, threatening Sanae Takaichi's ascent to prime minister.

The Nikkei average slumped 2.58 percent to 46,847.32 as the fluid political situation complicated the outlook for fiscal policy. The broader Topix index settled 1.99 percent lower at 3,133.99.

Among the prominent decliners, SoftBank Group, Chugai Pharma and Furukawa Electric lost 6-7 percent.

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