Investors around the world are closely watching the U.S. presidential election for clues about its outcome.
Benchmark stock indexes in Japan and Australia posted gains Wednesday morning, while the U.S. dollar was higher against other major currencies.
The election outcome is expected to have a major impact on economies across Asia.
It is unclear whether the election result will be known during Asian trading hours, as counting in swing states could take days.
“Markets appear to be in good spirits even though there are no clear signs yet as to who will take the reins of the White House,” said Tim Waterer, chief market analyst at investment firm KCM Trade.
In Japan, the benchmark Nikkei 225 stock index rose about 1%, while Australia's ASX 200 rose 0.8%.
In the United States on Tuesday, the Dow Jones Industrial Average, S&P 500 and Nasdaq all closed up more than 1%.
“We may, however, see some fluctuations in the markets today, particularly for those assets that could be most affected by the outcome, with the US dollar and Chinese stocks being prime examples,” Mr Waterer said.
Donald Trump said throughout the campaign that if he became the next president of the United States, he would significantly increase tariffs, particularly on China.
If Kamala Harris wins, investors expect her trade policy to be a continuation of Joe Biden's more predictable approach.
Investors also have other key issues to focus on this week.
On Thursday, the US Federal Reserve is due to announce its latest interest rate decision.
The words of the head of the central bank, Jerome Powell, will be closely followed around the world.
Senior Chinese officials are expected to unveil more details on Friday about Beijing's plans to combat the slowdown in the world's second-largest economy.
