HK stocks gallop up as midterms fuel caution in region

Oil, chip stocks and the US dollar were under pressure in Asia on Thursday and just about everything else was up after US voters swept the Democrats to a series of stunning midterm election wins, a result that raised hopes for an end to the country's war on Iran. In Hong Kong, the benchmark Hang Seng Index opened up 397 points, or 1.66 percent, at 24,316 and almost doubled its gains to be 784 points up in early trading. The tech index rose 56 points, or 1.43 percent, to open at 3,992 while the China enterprises index too was higher by a similar margin, putting on 116 points, or 1.45 percent, to 8,174. Up north, the Shanghai Composite Index opened down 39 points, or 1.1 percent, at 3,646. That downward trend held too for the Shenzhen Component Index, putting it 118 points, or 1.1 percent, lower at 11,216 while the ChiNext Index was 51 points, or two percent, down at 2,493. In Tokyo, the Nikkei opened 196 points, or 0.32 percent, higher at 62,384, buoyed by declines in crude oil but with gains held in check by fears that the US midterms trashing for President Donald Trump will result in Democrats slowing the pace of...