The state's hard-hit economy has been the focus of both candidates during the campaign.

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 was down 0.2 percent after fluctuating through the day and South Korea's Kospi rose 2.2 percent, while benchmarks in Singapore and Shanghai gave up early gains to be down more than 0.5 percent.

Australia's S&P/ASX 200 index pared earlier losses to close slightly down 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 537.62 points, or 6.3 percent, at 9,114.60 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's stock was untraded because of a rush of buy orders, and was at a bid-only 195 yen ($1.96) in morning trading, up more than 34 percent from 145 yen ($1.46) Friday. Panasonic shares jumped 6.8 percent to 1,614 yen (about $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.

In Australia, financial issues improved after the Reserve Bank of Australia slashed rates for the third time in as many months, taking the cash rate to 5.25 percent.

"International economic data have continued to point to significant weakness in the major industrial economies, and there have been further signs that China and other parts of the developing world are slowing as well," bank Gov. Glenn Stevens said in a statement.

Bank shares also rose in Hong Kong as lending conditions eased further. Hong Kong's interbank lending rate, known as Hibor, for three-month loans fell to 2.79 from 3.08, and the territory's central bank injected $853 million Hong Kong dollars into the market Monday night.

In mainland China, the key Shanghai Composite Index fell through the psychologically important 1,700 level before rising again.

Oil prices were slightly lower, with light, sweet crude for December delivery down 8 cents to $63.83 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 98.91 yen from 99.03 late the previous day in New York. The euro was at $1.2610 from $1.2603.

NORFOLK, Virginia (Reuters) – Democratic presidential nominee Barack Obama launches an unprecedented television blitz on Wednesday to push his economic message on U.S. networks ranging from CBS and NBC to Comedy Central.

Obama's television broadside may also force a 15-minute delay in the Fox network's broadcast of the fifth game of the World Series -- the fiercely-followed championship of Major League Baseball -- coincidentally between teams from Pennsylvania and Florida, both major battlegrounds in the November 4 election.

His Republican rival John McCain plans to appear on CNN's "Larry King Live," hoping to woo viewers with his own vision of the country's future.

Campaign officials said Obama would use the 30 minutes of prime-time air time his campaign has purchased on several networks to focus on his message on the economy, which has taken center stage in his campaign.

"We want to make sure every voter heading into the voting booth knows exactly what Barack Obama would do to bring about fundamental change as president," campaign spokesman Bill Burton said.

A campaign official said the ad would include a video montage, footage of ordinary Americans telling their stories and some live portions of Obama, who is scheduled to be at a rally in Florida that evening.

Obama, already blanketing the airwaves with political advertisements in many battleground states, has purchased the 1/2-hour slot on CBS, NBC and Fox.

The ad, which airs at 8 p.m. EDT, coincides with the anniversary of the October 29, 1929, "Black Tuesday" stock market crash that ushered in the Great Depression.

The cost has been estimated at close to $1 million for each major network slot and reflects the huge cash advantage the Democratic candidate has over McCain.

FIRST SINCE PEROT

The "infomercial" is a throwback to a political advertising strategy common in the 1950s and 1960s. And it marks the first such paid national political telecast since Ross Perot ran a series during his independent bid for president in 1992.

Perot's paid programs, remembered for his use of charts and graphs, drew an average audience of 11.6 million viewers, according to Nielsen Media Research.

Obama, who has shattered all fundraising records, hauled in $150 million for his campaign in September alone. Unlike McCain, Obama chose not to accept public funding for his White House race, freeing him to raise millions privately.

In addition to the major broadcast networks, Wednesday's ad will also air on Spanish-language network Univision, and cable channels including Black Entertainment Television and TV One.

Obama will also appear on the Comedy Central network's popular "The Daily Show with Jon Stewart" on Wednesday, reaching out to younger voters for whom the topical humor show has become a major source of news and ironic commentary.

Rounding out his media campaign, the Democratic candidate is also likely to get coverage for an evening rally in Orlando, Florida, with former President Bill Clinton, the first time the two will campaign together.

The appearances are due to continue. Both NBC and ABC news announced plans to interview the Democratic candidate in coming days.

Obama leads McCain in national polls and in many of the battleground states -- those not considered safely Democratic or Republican -- that will determine the election.

Voters have given Obama higher marks than McCain for his handling of the economy, although the Arizona Republican senator lately has been hammering the Illinois senator over taxes, saying his plan to boost taxes on higher-income Americans would hurt small businesses.

Read on: http://news.yahoo.com/elections