Asia stocks fall ahead of tight U.S. election

Asian stock markets fell Monday as uncertainty about the outcome of the U.S. presidential election reduced appetite for riskier investments.

The race between President Barack Obama and Republican challenger Mitt Romney is virtually tied one day ahead of the election, generating an atmosphere of uncertainty that markets normally dislike.

Investors could awaken Wednesday without a clear winner. If the election comes down to a thin margin in a swing state like Ohio, the outcome could be delayed for days or weeks.

“The worst case scenario for markets is for a prolonged period of uncertainty if the results produce no clear cut result,” said analysts at Credit Agricole CIB in Hong Kong.

Japan’s Nikkei 225 index fell 0.3 percent to 9,026.22. Hong Kong’s Hang Seng lost 0.2 percent to 22,066.59. South Korea’s Kospi shed 0.4 percent to 1,910.62. Benchmarks in mainland China and Singapore also fell. The Philippines PSE rose 1 percent. Australia’s S&P/ASX 200 was flat at 4,461.30.

Meanwhile, shares of South Korea’s two largest carmakers plunged after the companies acknowledged overstating their gas mileage on hundreds of thousands of cars sold in the U.S. Hyundai Motor Co., the country’s largest carmaker, plummeted 6.7 percent and second—largest Kia Motors Corp. sank 7.1 percent.

Benchmark oil for December delivery was up 16 cents to $85.02 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.23, or 2.2 percent, to close Friday in New York at $84.86 a barrel its lowest level since July 10.

In currencies, the dollar rose to 80.53 yen from 80.42 yen late Friday in New York. In currencies, the euro was unchanged at $1.2829.

Post new comment

<form action="/comment/reply/200495" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-ba2100484c04d7c58d2930c94afa71f6" value="form-ba2100484c04d7c58d2930c94afa71f6" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="81648515" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.