Most Asian markets trade higher as investors bet on a Clinton victory

Most Asian stock market indices were trading higher on Tuesday (8 November), with the Shanghai Composite up 0.36% at 3,144.71 as of 6.45am GMT. This was amid investors being cautiously optimistic that Hillary Clinton would win the US elections.

Polls last week showed the Democrat candidate's lead over Republican Donald Trump had reduced. However, at least five major polls on Monday showed Clinton to still be in the lead in the race to the White House.

This boosted investor confidence in the markets as Clinton is seen by them as offering greater certainty and stability. It is said this confidence got a boost after the Federal Bureau of Investigation (FBI) said on Sunday that it had cleared Clinton of any wrongdoing in the private email server probe.

"As markets head into the US election, a final recalibration of risk is in train...Asia-Pacific markets were the first to adjust to the political shift, and may trade more modestly today after roaring back to life yesterday," Michael McCarthy, chief market strategist at CMC Markets, was quoted as saying by Reuters.

Investors, however, continue to be wary amid concerns that the outcome of the US elections could be a shocker just like the 23 June referendum, where the UK in an unexpected move voted to leave the European Union.

Indices in the region were trading as follows at 6.59am GMT:

Overnight (7 November), the FTSE 100 closed 1.70% higher at 6,806.90, while the Dow Jones Industrial Average closed higher by 2.08% at 18,259.60

Among commodities, oil prices were mixed. While Brent Crude was trading higher by 0.28% at $46.28 (£37.31) a barrel, WTI Crude oil prices remained unchanged at 44.89 a barrel.