Markets are betting on control of the U.S. Congress being split between Republicans and Democrats, which could mean low taxes and light regulation that investors like stay in place.
The Shanghai Composite Index lost 0.7% to 3,296.45 while the Nikkei 225 in Tokyo gained 1% to 24,353.15. The Hang Seng in Hong Kong shed 0.2% to 25,649.51. On Wall Street, the S&P 500 rose to 3,510.45. The Dow Jones Industrial Average gained 1.9% to 28,390.18. The Nasdaq composite climbed 2.6% to 11,890.93.
Technology stocks helped power the rally. Rising expectations that Republicans can hold onto the Senate are easing investors' worries that a Democratic-controlled Washington would beef up anti-monopoly laws and go after Big Tech more aggressively.
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