HONG KONG : Asian shares rose on Tuesday as U.S. stocks increased overnight before midterm elections and investors clung on to hopes that China would eventually relax its strict pandemic curbs even after the government reaffirmed its commitment to the zero-COVID policy.
"The thing to watch ... will be the U.S. midterms today and the CPI data tomorrow," said Redmond Wong, Saxo Markets' market strategist for Greater China, in a note on Tuesday. The policy has weighed on China's economic activity, with downbeat trade data on Monday providing the latest sign that the world's second-largest economy is slowing.
"A divided government in Washington is ostensibly bullish for equities," said Stephen Innes, managing partner of SPI Asset Management in a note.