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BANGKOK (AP) 鈥� Asian shares are mixed and U.S. futures have edged higher after U.S. 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鈥檚 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 U.S. as talks with the Trump administration appear to have made little headway.

鈥淲e 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,鈥� Peter Hoflich of BMI, a part of the Fitch Group, said in a commentary.

鈥淲ithout a structural reset through snap elections, Japan is likely to face prolonged policy drift throughout 2026,鈥� 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 0.3% to 24,895.20, while the Shanghai Composite index gained 0.4% to 3,549.89.

Recent stronger 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 0.5% to 3,205.71 after the government reported a slight improvement in exports in June.

In Australia, the S&P/ASX 200 shed 1.1% to 8,659.50, while Taiwan’s Taiex dropped 0.3%. In India, the Sensex rose 0.2%, while Bangkok’s SET was down 0.5%.

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.

Norfolk Southern chugged 2.5% higher after an AP source said it was discussing a merger with Union Pacific to create the largest railroad in North America, one that would connect the East and West coasts. Any such deal, though, would likely face tough scrutiny from U.S. regulators. Union Pacific鈥檚 stock fell 1.2%.

The heaviest weight on the market, meanwhile, was Netflix, which fell 5.1% despite reporting a stronger-than-expected profit.

Exxon Mobil sank 3.5% and also tugged on the market. It had been challenging Chevron鈥檚 $53 billion deal to buy Hess, but an arbitration ruling in Paris about Hess assets off Guyana鈥檚 coast allowed the buyout to go through. Chevron fell 0.9% after losing an early gain.

Treasury yields eased after a report suggested U.S. consumers may be feeling less fearful about coming inflation. They鈥檙e bracing for inflation of 4.4% in the year ahead, down from last month鈥檚 projection of 5%, according to preliminary results from a University of Michigan survey.

Prices may already be starting to feel the upward effects of President Donald Trump’ s higher tariffs, according to data released last week.

The Trump administration is preparing to impose steeper import duties on many countries as of Aug. 1, although some have worked out deals to mitigate some of the damage.

In other trading early Monday, U.S. benchmark crude oil gained 14 cents to $66.19 per barrel. Brent crude, the international standard, added 10 cents to $69.38 per barrel.

The U.S. dollar rose to 148.50 Japanese yen from 147.98 yen. The euro slipped to $1.1628 from $1.1629.