Investing.com - Asian stocks traded mixed to higher on Wednesday in edgy trading as investors awaited the results of U.S. elections.
During Asian trading on Wednesday, Hong Kong's Hang Seng Index was down 0.34%, Australia's S&P/ASX200 was up 0.21%, while Japan’s Nikkei 225 Index was down 0.41%.
Stock hovered about as investors waited to see how presidential elections came out in the U.S., with the race too close to call in key battleground states.
At the time of writing, results have come in largely within expectations, with three swing states — New Hampshire, Pennsylvania and Wisconsin — voting for President Barack Obama.
However, key states including Florida, North Carolina, Ohio and Virginia have yet to indicate a winner, which kept investors on edge.
Results could push either President Obama or Republican challenger Mitt Romney into victory,
Market observers also kept a close eye on congressional elections taking place.
In the immediate future, a fast-approaching fiscal adjustment is due to strike the U.S. economy.
At the end of this year in the U.S., the Bush-era tax cuts and other tax benefits expire at the same time pre-programmed cuts to government spending take effect, a combination known as a fiscal cliff that could push the U.S. into recession if left unaddressed by Congress.
With elections behind them, a new Congress and the White House may be more willing to address politically unpopular tax and spending issues, though investors have been bracing for volatility ahead.
Elsewhere, market participants braced for a parliamentary vote in Greece later Wednesday on a new round of austerity measures Athens must secure to tap its next installment of bailout money.
Some members of the government coalition have balked at the government's proposed wage cuts and tax hikes, which kept equities market participants on edge.
Meanwhile investors largely shrugged off data revealing that German factory orders dropped 3.3% in September, worse than expectations for a 0.5% decline.
In Hong Kong, top decliners included China Overseas, down 1.49%, China Resources Power, down 1.32%, and China Shenhua, down 1.41%.
In Australia, top gainers included OceanaGold Corp, up 6.60%, Saracen Mineral Holdings, up 5.49%, and Intrepid Mines, up 0.04%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 1.05%, while Germany's DAX 30 futures pointed to a loss of 0.49%. Meanwhile in the U.K., FTSE 100 futures were down 0.57%.
Dow Jones Industrial Average futures were down 0.68%, while the S&P 500 futures were down 0.78%.
Markets will react Wednesday to the results of the U.S. presidential elections, especially if the race ends up too-close-to-call and drags on with no winner throughout the day.
During Asian trading on Wednesday, Hong Kong's Hang Seng Index was down 0.34%, Australia's S&P/ASX200 was up 0.21%, while Japan’s Nikkei 225 Index was down 0.41%.
Stock hovered about as investors waited to see how presidential elections came out in the U.S., with the race too close to call in key battleground states.
At the time of writing, results have come in largely within expectations, with three swing states — New Hampshire, Pennsylvania and Wisconsin — voting for President Barack Obama.
However, key states including Florida, North Carolina, Ohio and Virginia have yet to indicate a winner, which kept investors on edge.
Results could push either President Obama or Republican challenger Mitt Romney into victory,
Market observers also kept a close eye on congressional elections taking place.
In the immediate future, a fast-approaching fiscal adjustment is due to strike the U.S. economy.
At the end of this year in the U.S., the Bush-era tax cuts and other tax benefits expire at the same time pre-programmed cuts to government spending take effect, a combination known as a fiscal cliff that could push the U.S. into recession if left unaddressed by Congress.
With elections behind them, a new Congress and the White House may be more willing to address politically unpopular tax and spending issues, though investors have been bracing for volatility ahead.
Elsewhere, market participants braced for a parliamentary vote in Greece later Wednesday on a new round of austerity measures Athens must secure to tap its next installment of bailout money.
Some members of the government coalition have balked at the government's proposed wage cuts and tax hikes, which kept equities market participants on edge.
Meanwhile investors largely shrugged off data revealing that German factory orders dropped 3.3% in September, worse than expectations for a 0.5% decline.
In Hong Kong, top decliners included China Overseas, down 1.49%, China Resources Power, down 1.32%, and China Shenhua, down 1.41%.
In Australia, top gainers included OceanaGold Corp, up 6.60%, Saracen Mineral Holdings, up 5.49%, and Intrepid Mines, up 0.04%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 1.05%, while Germany's DAX 30 futures pointed to a loss of 0.49%. Meanwhile in the U.K., FTSE 100 futures were down 0.57%.
Dow Jones Industrial Average futures were down 0.68%, while the S&P 500 futures were down 0.78%.
Markets will react Wednesday to the results of the U.S. presidential elections, especially if the race ends up too-close-to-call and drags on with no winner throughout the day.