Hardest hit among developed markets with a 12% decline due to heavy dependence on imported energy.

Heavy energy-importing economies like Japan are vulnerable to maritime supply route disruptions and rising import costs.

Reported to be 'down significantly' due to a combination of rising domestic bond yields and external tariff threats, warranting a cautious approach.

The new pro-growth political leadership is viewed as a major positive catalyst, with investors optimistic about policies aimed at stimulating economic growth.

The outlook for Japan is 'a little bit more upbeat' due to a push for more fiscal stimulus, which is seen as a potential positive for the country and its market (Nikkei).

Japan is viewed slightly favorably as political turmoil is aimed at pushing for more fiscal stimulus, which could be positive for its economy and the Nikkei index.

Following US markets, Japan's Nikkei and Topix indices closed at a new high, showing significant strength and positive momentum in the Japanese market.