Singapore — Asian shares rose and the dollar wobbled on Wednesday as investors awaited US inflation data as well as the results of the US midterm elections that could signify a power shift in Washington.
Meanwhile, China’s factory-gate prices for October dropped for the first time since December 2020, underlining faltering domestic demand and disruption to production amid strict Covid-19 measures and a sluggish property sector.Results of the US midterm elections will decide whether the Democrats lose or retain congressional control halfway through President Joe Biden’s term, with investors expecting Republican gains.
Historically, stocks have tended to do better under a split government when a Democrat is in the White House, with investors attributing some of that performance to political gridlock that prevents either side from making major policy changes.
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JEAN PIERRE VERSTER: The new stock market generalsIf the generals are the last to get shot, as they say in the market, be deeply cautious when it comes to the share price performance of some US big guns, writes JP_Verster.
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JEAN PIERRE VERSTER: The new stock market generalsIf the generals are the last to get shot, as they say in the market, be deeply cautious when it comes to the share price performance of some US big guns, writes JP_Verster.
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Business Maverick: US stock futures fluctuate as votes trickle in: markets wrapUS equity futures swung between gains and losses and Asian stocks were mixed as investors awaited midterm election results, with potential for government gridlock seen as positive for shares.
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