Japanese prime minister Fumio Kishida has given up. Beset by public anger about cost-of-living pressures and a party corruption scandal, Kishida has announced that he will not seek re-election as leader of the country’s governing party. He is expected to step down next month. Change at the top of Japanese politics comes as the local stock market recovers from a bruising sell-off, which saw the Nikkei fall 12.4%, its biggest one-day drop since 1987.