- Asia-Pacific markets showed mixed trends following mixed Wall Street cues and US election focus
- South Korea's Kospi rose 1.6%, while Japan's Nikkei 225 and Australia's ASX 200 declined
- US indices closed mixed; Nasdaq up 0.83%, S&P 500 up 0.36%, Dow Jones down 0.38%
Asia-Pacific markets were trading mixed on Wednesday, November 4, tracking mixed cues from Wall Street. Investors also remained focused on the US midterm election results, with early indications pointing towards a potential Democratic victory over Republicans.
South Korea's Kospi rebounded from the previous session's decline, rising 1.6%. Japan's Nikkei 225 tumbled 1.56%, while the Topix slipped 0.55%. Australia's ASX 200 also fell 0.52%.
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This came after US benchmark indices ended on a mixed note in the previous session, ahead of the midterm election results.
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The tech-heavy Nasdaq Composite attracted buying interest and ended 0.83% higher, while the S&P 500 gained 0.36%. The Dow Jones Industrial Average, however, slipped 0.38%.
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Meanwhile, US stock futures turned negative after initially gaining on Tuesday evening as traders speculated that Democrats were heading towards majority control of the House of Representatives and possibly the Senate, as polling stations began closing across the country.
Futures tied to the S&P 500 traded 0.6% lower after opening the evening session higher, while Nasdaq-100 futures shed 0.5%. Dow Jones Industrial Average futures fell 252 points, or 0.5%.
On prediction market platform Kalshi, the odds of Democrats gaining control of the Senate climbed to around 90%, indicating growing expectations of a strong performance by the party, according to reports. The odds of Democrats retaining control of the House, which was largely expected, rose to 97%.
However, polling was yet to close fully across all states.
Meanwhile, crude oil prices eased from the $114 levels but remained elevated, with Brent crude trading at $104 a barrel, up 0.69%, as investors grappled with uncertainty surrounding ongoing peace negotiations between the US and Iran.
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