Stock markets mostly rose while gold hit a record high on Tuesday, with expectations of US rate cuts to bolster the world's biggest economy outweighing political shakeups in Japan and France.

Tokyo's Nikkei briefly spiked to a new record before ending lower amid 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.

In Paris, the CAC 40 index moved higher after Prime Minister Francois Bayrou submitted his resignation to President Emmanuel Macron after parliament ousted his government.

Bayrou on Monday suffered a crushing loss in a confidence vote he called, seeking support for over 4

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