Asia-Pacific markets mixed
Meanwhile, stocks in other major Asia-Pacific markets were mixed in Wednesday trade.
Mainland Chinese stocks edged lower, with the Shanghai composite down 0.51% while the Shenzhen component shed 0.198%.
In Japan, the Nikkei 225 rose 1.42% while the Topix index advanced 0.82%. South Korea’s Kospi were slightly higher.
Shares in Australia slipped, as the S&P/ASX 200 declined around 0.7%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.73% lower.
On the economic data front, Australia’s retail turnover fell 1.1% in September 2020 on a seasonally-adjusted basis, according to the country’s Bureau of Statistics.
Following that data release, the Australian dollar changed hands at $0.7052, after an earlier high of $0.7221.
A private survey also showed China’s service sector activity growing in October, with the Caixin/Markit services Purchasing Managers’ index coming in at 56.8. PMI readings above 50 signify expansion, while those below that indicate contraction. PMI readings are sequential and represent on-month expansion or contraction.
U.S. election watch
Investor focus on Wednesday was also likely on the U.S. presidential election between incumbent Donald Trump and former Vice President Joe Biden.
“We consider the election result is very uncertain despite former Vice President Biden’s large lead in the national polls,” Joseph Capurso, head of international economics at Commonwealth Bank of Australia, wrote in a note. “The uncertainty about the outcome of the election and the risk of an inconclusive result on the day can lift currency volatility.”
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.033 following levels above 94 seen earlier this week.
The Japanese yen, often seen as a safe-haven currency, traded at 105.25 per dollar after seeing an earlier high of 104.35 against the greenback.
Oil prices were higher in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.58% to $39.94 per barrel. U.S. crude futures also gained 0.72% to $37.93 per barrel.
— CNBC’s Arjun Kharpal contributed to this report.
Source: CNBC