Nikkei 225 index added 1.3% to 38,552.67, Kospi declined 0.7% to 2,569.75, the S&P/ASX 200 tumbled 0.6% to 8,117.30, Hang Seng was 0.1% higher at 20,597.30 and the Shanghai Composite index rose 0.4% to 3,323.26
Shares were mixed in Asia early Tuesday after U.S. stock indexes dropped a day ahead of the U.S. presidential election.
This week will bring various potential flashpoints, among them Election Day in the US. But the results may not be known for some time as officials count all the votes, and that could bring sharp swings since markets don’t like uncertainty.
U.S. futures were virtually unchanged early Tuesday.
Adding to the potential for volatility, the Fed will also be meeting on interest rates later this week. The widespread expectation is for it to cut its main interest rate for a second consecutive time.
Investors also hope the Chinese government may announce stimulus for the world’s second-biggest economy.
Japan’s Nikkei 225 index added 1.3% to 38,552.67, reopening after a holiday on Monday.
South Korea’s Kospi declined 0.7% to 2,569.75, while the S&P/ASX 200 in Australia tumbled 0.6% to 8,117.30.
The Standing Committee of China’s National People’s Congress (NPC) is meeting this week, and analysts say the government may endorse major spending initiatives to bolster economic growth amid troubles for the country’s real estate industry.
The official Xinhua News Agency reported that the lawmakers had reviewed legislation to raise ceilings on local government debt to replace existing hidden debts, part of a process to arrange debt swaps to help resolve the financial woes brought on by the pandemic and by a collapse in the property market in recent years.
Hong Kong’s Hang Seng was 0.1% higher at 20,597.30 and the Shanghai Composite index rose 0.4% to 3,323.26.
On Monday, the S&P 500 slid 0.3% to 5,712.69, remaining near its record set last month. The Dow Jones Industrial Average dropped 0.6% to 41,794.60, while the Nasdaq composite slid 0.3% to 18,179.98.
