Stock market today: Asian shares are mostly higher after Wall Street drifts ahead of US election
Shares are mostly higher in Asia after U.S. stock indexes drifted lower at the start of a momentous week full of potential flashpoints in Washington, D
Shares were mostly higher in Asia early Tuesday, with major benchmarks gaining more than 1%, after U.S. stock indexes drifted lower a day ahead of the U.S. presidential election.
This week will bring various potential flashpoints, among them Election Day in the United States. But the results may not be known for some time as officials count all the votes, and the uncertainty could roil markets.
Adding to the potential for volatility, the Federal Reserve 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 straight time.
Investors also hope the Chinese government may announce stimulus for the world’s second-largest economy.
Japan's Nikkei 225 index gained 1.4% to 38,571.64, reopening after a holiday on Monday.
South Korea's Kospi fell 0.4% to 2,578.50 after the country's military said North Korea launched multiple short-range ballistic missiles toward its eastern sea, continuing its weapons demonstrations ahead of the U.S. presidential election.
The S&P/ASX 200 in Australia dropped 0.4% to 8,131.80 as the central bank kepts its benchmark interest rate unchanged.
The Standing Committee of China’s National People’s Congress is meeting this week, and the government is expected to endorse major spending initiatives to boost 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
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