Asian stocks mixed as caution reigns ahead of U.S. midterms

HONG KONG – Asian shares held recent gains but lost momentum on Tuesday as investors remained cautious ahead of the release of the U.S. inflation data and mid-term elections, which will determine control of Congress.

London and New York are set to open lower with FTSE futures and E-mini futures for the S&P 500 index down 0.55 percent and 0.18 percent, respectively, after Wall Street’s buoyant Monday close.

MSCI’s gauge of Asia Pacific stocks outside Japan narrowed gains to rise 0.12 percent at 0517GMT.

“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….

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