World shares mixed ahead of US midterms election

BANGKOK (AP) — Share prices were mixed in Europe and Asia on Tuesday as cautious world investors awaited the outcome of the U.S. midterm elections.

KEEPING SCORE: Britain’s FTSE 100 lost 0.1 percent to 7,093.77 while Germany’s DAX added 0.2 percent to 11,514.21. The CAC 40 in France was flat at 5,101.42. Wall Street was likewise headed for a lackluster start, with the futures contract for the Dow Jones Industrial Average up less than 0.1 percent at 25,543.00 and the S&P 500 future contract down 0.1 percent at 2,736.70.

ASIA’S DAY: Japan’s Nikkei 225 index jumped 1.1 percent to 22,147.75 and the Kospi in South Korea added 0.6 percent to 2,089.62. The Shanghai Composite index slipped 0.2 percent to 2,659.36 and Hong Kong’s Hang Seng bounced back, gaining 0.7 percent to 26,120.96. Australia’s S&P ASX 200 advanced 1.0 percent 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. Asia will be watching to see how the vote might influence U.S. trade, economic and security policies.

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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 month,” Craig Erlam of OANDA said in a commentary.

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