STORY: Japan’s incoming prime minister, Shigeru Ishiba, said Monday (September 30) he's calling a snap general election on Oct. 27.He just won a close leadership race to become head of the ruling Liberal Democratic Party.

Japan’s benchmark Nikkei 225 index tumbled nearly 5% early Monday after the country’s ruling Liberal Democrats chose Shigeru Ishiba, a former defense minister, as the next prime minister. Ishiba is due Tuesday to succeed current Prime Minister Fumio Kishida,

Japan's incoming prime minister, Shigeru Ishiba, signalled continuity this weekend in his early decisions on key posts for his government, suggesting a desire for stability after an unpredictable leadership race.