Asia Mostly Higher After U.S. Vote

Stocks in Asia were mainly higher, with the exception of mainland China, after a stateside rally saw the Dow Jones Industrial Average and S&P 500 record their best post-midterm elections rally since 1982.

In Japan, the Nikkei 225 gained back lost ground in a big way, roaring ahead 401.12 points, or 1.8%, to 22,486.92.

The Japanese yen was at 113.69 against the U.S. dollar after weakening from levels around 113 in the previous session.

In Hong Kong, the Hang Seng Index grew 80.03 points, or 0.3%, to 26,227.72

Australian bourses showed gains, with most sectors seeing gains as energy stocks advanced 0.5%

Shares of the largest gas pipeline company Down Under, APA Group, bucked the overall positive trend and fell 9.89% after the country's treasurer, Josh Frydenberg, announced his intention on Wednesday to block a takeover bid from Hong Kong's CK Infrastructure.

Following the setback, shares of CK Infrastructure saw losses of 0.3% during the afternoon session in Hong Kong.

The Australian dollar traded at $0.7287 U.S. following gains from around the $0.722 handle yesterday.


In Shanghai, the CSI 300 retreated 9.14 points, or 0.3%, to 3,212.77

China earlier in the day revealed its October data on imports and exports, which both smashed analyst expectations.

Exports denominated in dollars rose 15.6% from a year ago in October, exceeding an expected 11% growth economists had forecast. Dollar-denominated imports, meanwhile, rose 21.4% from a year ago, topping an expected 14%.

The country's General Administration of Customs said the overall trade surplus was $34.01 billion U.S. for October, lower than the $35 billion economists had expected.

China's markets are being closely watched by investors following the U.S. midterm election results — even though experts predicted the outcome would have little impact on the two countries' ongoing trade war.

In other markets

In Taiwan, the Taiex index added 36.96 points, or 0.4%, to 9,945.31

In Korea, the Kospi index recovered 13.94 points, or 0.7%, at 2,092.63

In Singapore, the Straits Times Index prospered 27.88 points, or 0.9%, to 3,093.24

In New Zealand, the NZX 50 gained 41.22 points, or 0.5%, to 8,896.01

In Australia, the ASX 200 tacked on 31.37 points, or 0.5%, to 5,928.23