UK's political convulsions set to prolong market turmoil

Global investors have been following the chaos and confusion on the UK’s political scene, looking for signs of stability. It remains to be seen whether Rishi Sunak, the new leader of the Conservative government, will be able to deliver that. The current consensus in Asia is that the new prime minister will fail to persuade markets that the UK is on the right path to economic recovery. Reflecting negative sentiment expressed last week by the markets – and by credit rating agency …