In Asian Equity Markets indices were mixed on Tuesday afternoon as investors looked to the U.S. midterm elections set for later in the day. The Greater China markets were in negative territory by the end of the morning session, with the Shanghai composite dropping 1.05 percent. Japan’s Nikkei 225 rose by 1 percent in afternoon trade and the Topix index saw gains of 1.16 percent. In Australia, the ASX 200 was 0.92 percent higher in afternoon trade, with most sectors seeing gains. The energy and materials sectors were up 1.47 and 1.67 percent.

In Currency Markets the US dollar stuck to tight ranges against its major rivals on Tuesday as investors favored caution ahead of U.S. midterm elections later in the day. The U.S. congressional election is widely expected to boost the Democratic Party, which has a strong chance of winning control of the House of Representatives, with Republicans seen likely to keep the Senate. Against the yen, the dollar changed hands 0.1 percent higher at 113.27 yen, close to a four-week high of 113.385 yen reached last week.

In Commodities Markets oil prices slipped on Tuesday, weighed down by exemptions from Washington that will allow Iran’s biggest oil customers to keep buying from Tehran, as well as concerns that an economic slowdown may curb fuel demand growth. U.S. West Texas Intermediate (WTI) crude futures were at $62.95 a barrel, down 15 cents, or 0.2 percent, from their last settlement. International Brent crude oil futures were down 28 cents, or 0.4 percent, at $72.89 a barrel. Hedge fund managers were net sellers of petroleum-linked futures and options for a fifth week running last week.

In US Equity Markets the S&P 500 rose on Monday with boosts from financial, energy and defensive sectors as investors showed some caution on the eve of U.S. congressional elections. While the financial sector was boosted by earnings, the energy sector, which has lagged the broader S&P 500 this year, gained 1.6 percent after the United States imposed a range of punitive sanctions on Iran. The S&P 500 gained  0.56 percent, to 2,738.31 and the Nasdaq Composite fell 0.38 percent, to 7,328.85. The real estate sector closed up 1.7 percent making it the biggest percentage gainer of the S&P 500.

In Bond Markets Japanese government bond prices dipped on Tuesday as stocks advanced and dimmed the safe-haven allure of debt, although market action was limited ahead of the closely-watched U.S. midterm elections. The five-year JGB yield and the benchmark 10-year yield each rose half a basis point to minus 0.080 percent and 0.130 percent, respectively. A debt auction on Tuesday still managed to attract sufficient demand.