World shares mixed as investors watch for US vote outcome

Asian shares were mostly lower Wednesday as surging virus counts and China-U.S. tensions weighed on sentiment.Koji Sasahara/AP Show MoreShow Less World shares were mixed and U.S. futures declined Wednesday as investors awaited full results of a Senate runoff election that will determine whether Democrats take control of both houses of the U.S. Congress.

The expectation is that a Democratic sweep might lead to higher tax rates, tougher regulation on businesses and other potentially profit-crimping changes from Washington.

The outcome of the race between Republican David Perdue and Democrat Jon Ossoff was too early and close to call as votes were still being counted.

During Asian trading, Hong Kong shares yoyo'd after authorities arrested dozens of pro-democracy figures, including former lawmakers for allegedly violating a national security law by participating in an unofficial primary election last year held to increase their chances of controlling the legislature.

Investors were weighing the potential impact of an executive order from President Donald Trump banning transactions with eight Chinese apps including Alipay and WeChat Pay in an escalation of a trade war he has been waging through most of his term.

But surging infections around the world are bringing fresh lockdown orders, undermining confidence that support from central banks and governments can keep economies afloat until mass injections of COVID-19 vaccines can drive broader recoveries.

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