Asian Markets On Mixed Close Ahead Of U.S. Elections

November 4, 2008 5:35 a.m. EST

Hong Kong (AHN) - The Asian markets closed in mixed results after a cautious trading on Tuesday following an almost unchanged Wall Street finish on Monday ahead of the U.S. presidential elections with Japan ending a high note performance.

Japan's Nikkei Exchange posted a 6.3 percent gain on Tuesday led by Japanese car makers auto Toyota Motor Corp. and Honda Motor Co despite bleak U.S. sales data released overnight. Tokyo's market was closed for the holiday on Monday and caught up gains made by other Asian markets.

In other Asian and Pacific stock markets, there were little change.

Seoul's KOSPI sustained its 1.4 percent gain on Monday and was up0 by 2.2 percent before closing on Tuesday.

While Australia's All Ordinaries, Taipei's Taiwan Weighted and the Straits Times index in Singapore all lost less than 1 percent in Tuesday's trading. The Hang Sent index in Hong Kong was up about 0.2 percent.

Reports that Panasonic Corp. interest in acquiring rival Sanyo Electric Co., sent prices of the electronic firm's shares soaring at 4.6 percent to 1,582 yen ($16).