Asian Markets Mixed Ahead of Pivotal US Senate Race Results
Investors keeping close eye on crucial runoff elections in southern state of Georgia that will determine control of U.S. Senate. 
Asian markets are mixed Wednesday amid a trio of coinciding political and economic events. Japan’s benchmark Nikkei index lost 0.3%. Australia’s S&P/ASX index fell 1.1%. The KOSPI index in South Korea plunged 0.7%, and Taiwan’s TSEC index finished 0.1% lower. Shanghai’s Composite index closed 0.6% higher. In late afternoon trading, the Hang Seng index in Hong Kong is 0.2% higher, while Mumbai’s Sensex is down 0.2%. Investors were keeping a close eye on the runoff vote in (the southern U.S. state of) Georgia for two U.S. Senate seats, which will determine which party controls the chamber as President-elect Joe Biden prepares to take office on January 20. Reverend Raphael Warnock, a Democrat, was declared the winner over incumbent Republican Sen. Kelly Loeffler late Tuesday night, while Democrat Jon Ossoff maintained a lead over David Perdue, the other Republican incumbent heading into early Wednesday. Meanwhile, at least 50 Hong Kong pro-democracy activists and politicians were arrested Wednesday in a sweeping crackdown on opposition forces under a draconian new national security law; and U.S. President Donald Trump signed an executive order banning financial transactions with eight Chinese software apps, including Alipay and WeChat Pay. In commodities trading, gold is selling at $1,953.40, down one point but virtually unchanged percentage-wise (-0.05%). U.S. crude oil is selling at $49.85 per barrel, down 0.1%, and Brent crude oil is selling at $53.76 per barrel, up 0.3%. All three major U.S. indices are trending negatively in futures trading.