In most democracies, a politician who has just led his or her party to a crushing defeat steps aside. In the world’s largest democracy, however, parties are often structured around individuals or families. If they go, so does the party. That’s one reason why it is so surprising that Rahul Gandhi quit as president of the Indian National Congress party ...

Two years after Hong Kong’s securities regulator vowed to nip irregularities in the bud, flash crashes are still plaguing the world’s fourth-largest stock market. This year’s wave rivals the notorious “Enigma Network” that prompted the last bout of regulatory hand-wringing in 2017. In mid-January, Chinese real estate developer Jiayuan International Group Ltd. plunged without warning, triggering a $4.8 billion selloff ...

If there was ever a time for Japan and South Korea to engage in a supply-chain spat, this isn’t it. Last week, Japan moved to restrict exports of materials used to make semiconductors and smartphone screens to its North Asian neighbour, citing grievances between the two countries dating back seven decades. The curbs threaten the flow of components that feeds ...