<h1>Global markets rise as Japan hits record, political instability in France adds risk and US AI gains spark valuation concerns</h1> Global equity markets largely advanced as Japan's benchmark nudged to a record while European indices showed mixed moves after a sudden resignation in France triggered bargain buying; the French government's repeated leadership turnover underscores political instability risk. Japan's ruling party selected a conservative leader likely to pursue stimulus-friendly policies, but coalition dependence and intra-party resistance may limit implementation, posing governance and policy uncertainty. US indexes hit records driven by enthusiasm for artificial intelligence, raising valuation and concentration concerns in a few dominant firms and potential regulatory scrutiny. Energy and currency moves were modest.