China Markets Rise; U.S. Elections In Focus

Chinese stocks were trading higher on Tuesday, ahead of the U.S. presidential election. The Shanghai Composite Index gained 19.2 points, or 0.61 percent to 3,152.52.

In the spot market, the Chinese yuan was trading at 6.7791 versus the U.S. dollar, down 22 pips compared to the prior late session close.

U.S. stocks closed higher overnight, following news that the Federal Bureau of Investigation has cleared Hillary Clinton on the emails. The Dow Jones Industrial Average surged 2.08 percent, to 18,259.60, the S&P500 index gained 2.22 percent to 2,131.52, and the Nasdaq Composite climbed 2.37 percent to 5,166.17.

Oil prices traded higher on Tuesday, with the US WTI crude futures on the NYMEX declining 0.11 percent to trade at $44.84 a barrel.

Top market movers among the Shanghai Composite index are as follows:

• China Railway Group Ltd (601390: SHH) shares gained 2.2 percent to 8.88 CNY.
• SAIC Motor Corp Ltd (600104: SHH) rose 2.1 percent to 23.67 CNY.
• Kweichow Moutai Co Ltd (600519: SHH) shares rose 1.7 percent to 320.65 CNY.

• Inner Mongolia BaoTou Steel Union Co Ltd (600010: SHH) shares down around 0.7 percent to 2.85 CNY.
• China Northern Rare Earth Group High-Tech Co Ltd (600111: SHH) dropped 0.2 percent to 12.98 CNY.