Investing.com - Asian stock markets were mixed in subdued trade on Tuesday, as investors stuck to the sidelines amid uncertainty over the outcome of the U.S. presidential elections set to begin later in the day.
During late Asian trade, Hong Kong's Hang Seng Index declined 0.25%, Australia’s ASX/200 Index added 0.25%, while Japan’s Nikkei 225 Index ended down 0.35%.
Market participants shunned riskier assets ahead of the start of voting in the U.S. presidential elections, with opinion polls pointing to a tight race between incumbent President Barack Obama and Republican contender Mitt Romney.
Greece was also on investors mind, as the country’s parliament prepared to vote on the latest rounds of austerity measures on Wednesday, which could determine if Athens receives its next tranche of financial aid.
Investors are also looking ahead to the start of the 18th Chinese Communist Party Congress on Thursday, where a once-in-a-decade leadership change is to take place.
In Japan, shares in exporters came under pressure as the yen strengthened against the U.S. dollar, dampening the outlook for export earnings.
Consumer electronics retailer Sony saw shares drop 1.3%, while automakers Nissan and Honda saw shares retreat 2% and 1% respectively.
On the upside, Toyota shares added 0.9% after the company reported improved earnings and raised its profit outlook after Monday’s closing bell.
Meanwhile, shares in Hong Kong were mildly lower, as a looming leadership change in China and uncertainty about the outcome of the U.S. presidential election reduced appetite for riskier investments.
Index heavyweight HSBC Holdings saw shares slump 1.2% after reporting a 52% drop in third quarter net income, citing higher provisions related to a U.S. money-laundering investigation.
Shares of HSBC command a 15% weighting on the Hong Kong benchmark, making it the single largest constituent on the index.
Elsewhere, in Australia, the benchmark ASX/200 Index bucked the regional trend to end modestly higher, after the country’s central bank held its benchmark interest rate steady at 3.25%, citing rising domestic inflation and an improving global economy.
The big four banks all rose, with National Australia Bank gaining 0.85% and Westpac Banking Group up 0.7%.
Looking ahead, European stock market futures pointed to a modestly higher open, as investors focused on the U.S. presidential election and a Greek parliamentary vote on an austerity bill needed to secure the next tranche of aid.
The EURO STOXX 50 futures pointed to a gain of 0.25% at the open, France’s CAC 40 futures added 0.25%, London’s FTSE 100 futures rose 0.2%, while Germany's DAX futures pointed to a rise of 0.3%.
Later in the day, Germany was to produce official data on factory orders, while Spain and Italy were to release official data on service sector activity.
During late Asian trade, Hong Kong's Hang Seng Index declined 0.25%, Australia’s ASX/200 Index added 0.25%, while Japan’s Nikkei 225 Index ended down 0.35%.
Market participants shunned riskier assets ahead of the start of voting in the U.S. presidential elections, with opinion polls pointing to a tight race between incumbent President Barack Obama and Republican contender Mitt Romney.
Greece was also on investors mind, as the country’s parliament prepared to vote on the latest rounds of austerity measures on Wednesday, which could determine if Athens receives its next tranche of financial aid.
Investors are also looking ahead to the start of the 18th Chinese Communist Party Congress on Thursday, where a once-in-a-decade leadership change is to take place.
In Japan, shares in exporters came under pressure as the yen strengthened against the U.S. dollar, dampening the outlook for export earnings.
Consumer electronics retailer Sony saw shares drop 1.3%, while automakers Nissan and Honda saw shares retreat 2% and 1% respectively.
On the upside, Toyota shares added 0.9% after the company reported improved earnings and raised its profit outlook after Monday’s closing bell.
Meanwhile, shares in Hong Kong were mildly lower, as a looming leadership change in China and uncertainty about the outcome of the U.S. presidential election reduced appetite for riskier investments.
Index heavyweight HSBC Holdings saw shares slump 1.2% after reporting a 52% drop in third quarter net income, citing higher provisions related to a U.S. money-laundering investigation.
Shares of HSBC command a 15% weighting on the Hong Kong benchmark, making it the single largest constituent on the index.
Elsewhere, in Australia, the benchmark ASX/200 Index bucked the regional trend to end modestly higher, after the country’s central bank held its benchmark interest rate steady at 3.25%, citing rising domestic inflation and an improving global economy.
The big four banks all rose, with National Australia Bank gaining 0.85% and Westpac Banking Group up 0.7%.
Looking ahead, European stock market futures pointed to a modestly higher open, as investors focused on the U.S. presidential election and a Greek parliamentary vote on an austerity bill needed to secure the next tranche of aid.
The EURO STOXX 50 futures pointed to a gain of 0.25% at the open, France’s CAC 40 futures added 0.25%, London’s FTSE 100 futures rose 0.2%, while Germany's DAX futures pointed to a rise of 0.3%.
Later in the day, Germany was to produce official data on factory orders, while Spain and Italy were to release official data on service sector activity.