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· China stocks end up as banks gain, tempers disappointment of Ant IPO suspension

China stocks closed higher on Wednesday, underpinned by banking shares, as investors appeared to take in stride the suspension of Ant Group’s closely watched mega-listing, with a strong services activity survey aiding sentiment.

The U.S. presidential election was also on investors’ radar, with the outcome still too close to call although President Donald Trump took the early lead in some key swing states.

The blue-chip CSI300 index rose 0.8%, to 4,813.66 points, while the Shanghai Composite Index added 0.2% to 3,277.44 points.

China on Tuesday suspended Ant Group’s $37 billion listing, thwarting the world’s biggest stock market debut. But analysts said the news could bode well for Chinese banks as it could mean decreased competition from the tech giant.

The CSI30 banks index closed up 1.7%, leading a broad rally in the market.

· European markets open lower as investors watch U.S. election results

European stocks opened lower on Wednesday as investors around the world keep watch on the results of the U.S. election.

The pan-European Stoxx 600 fell 1.2% in early trade, with banks shedding 3.3% to lead losses as all sectors except healthcare slid into negative territory.

The results of the U.S. election are starting to trickle in as most polls across the country have now closed, with only Alaska still voting. President Donald Trump is projected to win Ohio and Florida, while former Vice President Joe Biden is ahead in Arizona.