GLOBAL MARKETS-Asian shares seen lower on coronavirus, election uncertainty

By Pete Schroeder
Oct 28 (Reuters) - Asian markets looked set for another
weaker open on Wednesday as worries about a surge in coronavirus
cases and dwindling hopes for a U.S. stimulus package kept
investors gloomy.
Australia's ASX 200 .AXJO opened down about 0.43%, while
Japan's Nikkei 225 futures NKc1 were down 0.36%. The Nikkei
225 index .N225 closed down 0.04% on Tuesday. The futures
contract was down 0.62% from that close​.
Hong Kong's Hang Seng index futures .HSI .HSIc1 were up
0.4%.
MSCI's gauge of stocks across the globe .MIWD00000PUS was
down 0.27%.
"Markets had a risk-off tone as U.S. consumer confidence
data disappointed, COVID-19 cases continue to rise, and the
chances of a fiscal deal before the U.S. election faded," ANZ
analysts said in a note.
Investors appeared content to steer clear of risk with
looming uncertainty, headlined by the Nov. 3 U.S. presidential
election. Former Vice President Joe Biden has enjoyed a
consistent leader over President Donald Trump, but the race is
closer in battleground states that could determine the outcome.
U.S. markets slipped as Trump acknowledged an economic
relief package would likely come after the Nov. 3 election.
In addition, new data showed U.S. consumer confidence
dipping in October, although orders of key capital goods hit a
six-year high. The Dow Jones Industrial Average .DJI fell 222.19 points,
or 0.8% and the S&P 500 .SPX lost 10.29 points, or 0.30%. The
Nasdaq Composite .IXIC added 72.41 points, or 0.64%.
Microsoft MSFT.O kicked off a slate of reporting from tech
heavyweights by beating Wall Street estimates for quarterly
revenue, buoyed by its flagship cloud computing business amid
increased work-from-home arrangements. Apple Inc AAPL.O ,
Amazon.com AMZN.O , and Google-parent Alphabet GOOGL.O are
among major tech players reporting later this week. The U.S. dollar fell against higher risk currencies on
uncertainty about the economy and the presidential election. The
dollar index, which measures the greenback against a basket of
major currencies, weakened 0.1% to 92.93 =USD . Brent crude LCOc1 closed up 75 cents, or 1.9%, as
companies shut down some production in the U.S. Gulf of Mexico
ahead of an approaching storm. U.S. oil CLc1 gained $1.01
cents, or 2.6%. Safe-haven U.S. Treasury yields fell on Tuesday and the
yield curve flattened as markets kept looking for a stimulus
deal. The benchmark 10-year US10YT=RR yield was down 2.7 basis
points in afternoon trading at 0.776%. Gold prices also climbed.
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