2016.11.0801:54:00UTC+00Asian Stocks Climb as U.S. Election Day Approaches

The majority of Asian stock markets advanced ahead of the U.S. presidential election, as investors are optimistic at the same time remain cautious on the possibilities of a Democrat Hillary Clinton victory. MSCI's broadest index of Asia-Pacific shares excluding Japan gained 0.3 percent.

Japan's Nikkei edged down 0.2 percent, pulled down by the yen climbing after the previous day's losses. Hong Kong's Hang Seng index rose 0.3 percent. South Korea's Kospi climbed 0.2 percent. China's CSI 300 index gained 0.5 percent, as the weaker yuan outweighed larger-than-expected losses in imports and exports as well as the smaller-than-forecast trace balance from October. The Shanghai Composite Index rose to a 10-month high and is on track for the best close in a week. Australia's ASX 200 was up 0.03 percent at 5,252.5. Its materials sub-index gained 1.35 percent while the energy sub-index rose 1.33 percent. However, the financial sub-index edged down 0.59 percent.

Australia's dollar was down 0.3 percent and had the largest losses among major currencies. The yuan last traded against the U.S. dollar at 6.7783, after the People's Bank of China (PBOC) set the currency's midpoint fix at 6.781.