Asian shares mixed as market await vote results, price data

BANGKOK (AP) — Asian shares were mixed on Wednesday as investors awaited the outcome of the U.S. midterm elections and a major inflation update due later in the week.

U.S. futures edged lower and oil prices fell.

Tokyo's Nikkei 225 index slipped 0.6% to 27,716.43 after the Cabinet on Tuesday approved a 29.1 trillion yen ($190 billion) supplementary budget to fund planned economic stimulus for the world's third-largest economy.

Chinese markets declined after the government reported consumer price inflation eased to 2.1% in October from 2.8% in September. Producer price inflation (PPI) dropped into deflationary territory, falling to minus 1.3% from 0.9% in October, the 21st straight month in an even stronger sign that the No. 2 economy is slowing.

“China inflation data printed a rather gloomy picture, with PPI remaining deflationary and CPI much weaker than expected, pointing to waning demand," Stephen Innes of SPI Asset Management said in a commentary.

Hong Kong's Hang Seng lost 1.5% to 16,307.72 and the Shanghai Composite index shed 0.4% to 3,052.48.

In Seoul, the Kospi gained 0.8% to 2,418.70 while Australia's S&P/ASX 200 rose 0.6% to 6,999.30.

All eyes were on the elections, which could determine how much is done in the next several years in Washington, and possibly beyond.

Americans were voting at a time of high inflation and warnings of recession and analysts say investors appeared to be betting that Republicans will gain control of at least one house of Congress. That combined with a Democratic White House could stymie progress on legislation and increase the risk of a funding crisis for the federal government.

On Wall Street, the S&P 500 rose 0.6% on Tuesday to 3,828.11, while the Dow Jones Industrial Average climbed 1% to 33,160.83 and the Nasdaq...