HONG KONG (AP) — Asian stock markets were mixed in cautious trade Tuesday after Wall Street's relatively flat finish ahead of the U.S. presidential election. Japan's market jumped after being closed for a holiday. Hong Kong's Hang Seng Index edged up 0.2 percent and South Korea's Kospi rose 1.2 percent, while benchmarks in Singapore and Shanghai fell more than 1 percent. Australia's S&P/ASX 200 index pared earlier losses to trade flat after the country's central bank surprised the market by slashing interest rates by 0.75 of a percentage point — a quarter point more than most analysts expected — amid growing signs of a slowdown there. In Tokyo, the Nikkei 225 stock average was up 403.14 points, or 4.7 percent, at 8,980.12 as major auto companies like Toyota Motor Corp. and Honda Motor Co. gained despite bleak U.S. sales data released overnight. The market was playing catch up after being closed Monday, when most Asian bourses gained. Weekend reports Panasonic Corp. may acquire rival Sanyo Electric Co. sent share prices of the Japanese electronics makers soaring. Sanyo shares were untraded because of a rush of buy orders, and was at a bid-only 195 yen ($1.96) in morning trading, up from 145 yen ($1.46) Friday. Panasonic shares jumped 4.6 percent to 1,582 yen ($16). The deal, if realized, would provide cash for Goldman Sachs Group Inc. of the U.S., which along with Japanese banks Sumitomo Mitsui Banking Corp. and Daiwa Securities SMBC invested 300 billion yen ($3 billion) in Sanyo in 2006. Elsewhere, trade was tepid as many investors showed a reluctance to place large bets before U.S. election results come out Wednesday morning in Asia. Wall Street's mixed session, along with a weak reading on America's manufacturing sector overnight, prompted others to take some money off the able after Asian bourses posted strong gains in the past week. "There isn't any major driver that should lift demand right now, and there's some precautionary profit taking," said Thomas Lam, the senior treasury economist at the United Overseas Bank in Singapore. In New York overnight, the Dow Jones industrial average fell 5.18, or 0.06 percent, to 9,319.83 in its calmest session in some time, after rising as much as 86 and falling 70. The day's trading range was its lowest since Sept. 3. Broader stock indicators were mixed. The Standard & Poor's 500 index fell 2.45, or 0.25 percent, to 966.30, while the Nasdaq composite index rose 5.38, or 0.31 percent, to 1,726.33. U.S. stock index futures were down a touch. Dow futures were down 5 points at 9,327, while S& futures were down 2.2 peoints at 967.3. Oil prices traded lower, with light, sweet crude for December delivery down 67 cents to $63.24 in Asian trade on the New York Mercantile Exchange. The contract dropped $3.87 to settle at $63.91 overnight. In currencies, the greenback weakened to 98.74 yen from 99.03 late the previous day in New York. The euro was at $1.2554 from $1.2603.

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