World markets turn lower as eyes turn to U.S. midterm election

Elaine Kurtenbach, The Associated Press
Published Tuesday, November 6, 2018 12:14AM EST
Last Updated Tuesday, November 6, 2018 8:39AM EST

BANGKOK — Global stock markets turned lower Tuesday, with Wall Street expected to dip on the open, as cautious investors awaited the outcome of the U.S. midterm elections.

KEEPING SCORE: Britain’s FTSE 100 lost 0.7 per cent to 7,054 while Germany’s DAX shed 0.2 per cent to 11,470. The CAC 40 in France was down 0.3 per cent at 5,088. Wall Street was likewise headed for a lacklustre start, with the futures contracts for the Dow Jones Industrial Average and the S&P 500 both down 0.2 per cent.

ASIA’S DAY: Japan’s Nikkei 225 index jumped 1.1 per cent to 22,147.75 and the Kospi in South Korea added 0.6 per cent to 2,089.62. The Shanghai Composite index slipped 0.2 per cent to 2,659.36 and Hong Kong’s Hang Seng bounced back, gaining 0.7 per cent to 26,120.96. Australia’s S&P ASX 200 advanced 1.0 per cent to 5,875.20. Shares fell in Taiwan but rose in Jakarta and Thailand. Markets were closed in Singapore and Malaysia for a public holiday.

ELECTION WATCH: Financial markets have been on a roller-coaster ride and the election Tuesday could roil things further. U.S. midterms, votes on lawmakers and other officials that fall between presidential elections, are often marked by low voter turnout. But political watchers are expecting voter angst over which party will control the U.S. House and Senate to drive more Americans to cast votes. Investors will be watching to see how the vote might influence U.S. trade, economic and security policies.

ANALYST’S VIEWPOINT: “U.S. midterms may not spring any shocks in terms of who wins control of what but investors are understandably taking a cautious approach ahead of the results, given how markets have been over the last

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