Stock markets mostly rose and gold hit a record high Tuesday as traders balanced expectations of cuts to US interest rates with political shakeups in Japan and France.

Tokyo’s Nikkei briefly spiked to a new record but ended down as political upheaval in Japan offset hopes that whoever replaces Prime Minister Shigeru Ishiba will unveil a fresh round of economic stimulus.

Japan’s ruling Liberal Democratic Party will pick its new leader on October 4, replacing Ishiba, who resigned at the weekend after huge election setbacks.

On Tuesday, the Paris CAC 40 made solid gains in midday deals.

French Prime Minister Francois Bayrou was Tuesday to submit his resignation to President Emmanuel Macron after parliament ousted the government.

Bayrou on Monday suffered a crushing loss in a confidence v

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