In Asian Equity Markets Japan’s Nikkei rose in volatile trade on Wednesday morning as investors awaited the results of U.S. midterm elections. The Nikkei share average was up 0.2 percent at 22,191.48. Telecom giant NTT Corp jumped 6 percent to 4,541 yen after the company said it would buy back up to 150 billion of its own shares. Stocks in China rose as well. China’s blue-chip CSI300 index was up 0.42 percent, with its financial sector sub-index higher by 0.2 percent, the consumer staples sector up 1 percent.

In Currency Markets the US dollar seesawed versus the euro and yen in a volatile session as traders scanned U.S. midterm election results for early insights into the prospect of Congressional gridlock. The Democratic Party is expected to win control of the U.S. House of Representatives, with the Republicans seen likely to keep their majority in the Senate. The dollar lost 0.07 percent against the yen, to trade at 113.33. Earlier in the session, the yen had strengthened to 112.95. The Australian dollar traded flat at $0.7246.

In Commodities Markets oil prices dipped on Wednesday as rising output and U.S. sanction waivers that allow Iran’s biggest buyers to keep taking its crude reinforced the outlook for a well-supplied market. Front-month Brent crude oil futures were at $72.04 per barrel, down 9 cents, or 0.1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude was at $61.92, down 29 cents, or 0.5 percent, from its last settlement. Brent and WTI have slumped by 17.4 and 19.7 percent from recent peaks touched in early October.

In US Equity Markets stocks rose on Tuesday, as strong earnings and easing of trade tensions lifted materials and industrial sectors but trading volumes were light as uncertainty about the outcome of U.S. midterm elections kept investors on the sidelines. Ten of the 11 major S&P sectors were higher, led by a 1.34 percent gain in the materials index. Shares of fertilizer company Mosaic Co rose 7.7 percent and building materials producer Martin Marietta Materials Inc gained 6.8 percent after strong results. The S&P 500 gained 0.63 percent to 2,755.45 and Nasdaq Composite added 0.64 percent to 7,375.96.

In Bond Markets Japanese government bond prices were little changed on Wednesday, with investors short of strong incentives with the broader financial markets showing a limited reaction to the U.S. midterm elections. The benchmark 10-year JGB yield was flat a 0.125 percent and the 30-year yield was also unchanged, at 0.885 percent. The Democrats rode a wave of dissatisfaction with President Donald Trump and won control of the U.S. House of Representatives on Tuesday. The vote outcome did not come as a major surprise and the markets took the election results in stride.