Asian stocks attempt gains amid US election jitters

The Asian markets are seen defending minor gains as risk-off sentiment persists in full swing, in wake of increased uncertainty surrounding the US presidential race, while a hawkish tilt in the latest FOMC statement also weighed on the market sentiment.

However, most major Asian indices manage to find some support from rebounding oil prices, which help lift the resource and energy sector stocks. While upbeat China services PMI and Australian trade data provided some respite to the Australian markets.

Meanwhile, the Australian S&P/ASX 200 trades modestly higher around 5,230 levels. The Chinese equities are on the defensive, with the benchmark Shanghai Composite index up +0.14%, while CSI300 index also gains +0.26%. Hong Kong markets drop -0.24% to trade around 22,750 levels.

The Japanese markets are closed today in observance of Culture Day.