A stealth rally in Japan

Japanese prime minister Shigeru Ishiba has resigned. Investors compounded the humiliation with celebrations. Local shares hit a record high on Tuesday. Ishiba’s 11-month tenure was blighted by electoral setbacks. The governing Liberal Democratic party (a conservative group, despite the name), lost its lower-house majority in elections last autumn. The clock had been ticking for Ishiba ever since angry voters stripped him of an upper-house majority in July. A series of rolling corruption scandals...