Asian shares in broad-based rally on eve of U.S. election

Asian shares got off to a strong start on Tuesday, with investors buoyed by strong factory output data from major economies, while the dollar and gold held ground on political uncertainty ahead of U.S. elections.

Asian shares

  • MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 1%, up for the second straight day.
  • South Korea’s main index .KSII advanced 1.7%, markets in Hong Kong .HSI and Sydney .AXJO rose 2% and Chinese blue chips .CSI300 put on 0.8%. Japanese markets were closed for a holiday.

Commodities

  • Oil prices steadied after two weeks of selling, with Brent futures down 0.1% to $38.90 a barrel, but hanging on to most of an overnight bounce.
  • Gold was firm at $1,895.6 an ounce, while the dollar index held ground at 94.027.

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