(fxcue news) - European stocks may open on a mixed note Wednesday as investors ponder over what a Trump presidency could mean for the region. A proposed 10 percent U.S. tariffs risk hitting European exports like autos and chemicals. According to early trends, Republican candidate Donald Trump holds a slim lead over Democratic nominee Kamala Harris in key battleground states. Asian markets traded mixed, with Hong Kong's Hang Seng falling 2.6 percent on fears over the fallout from heightened trade tensions. Investors also await the outcome of a meeting of top policymakers in Beijing this week that could approve local government debt refinancing and spending. Japan's Nikkei index was up nearly 2 percent as the yen plummeted to its lowest level since late July, boosting export-related stocks The dollar index and Treasury yields climbed, denting demand for bullion ahead of interest-rate decision from the Federal Reserve and the Bank of England due this week. Eurozone final composite PMI figures and Germany factory orders data may also garner some attention as the day progresses. Oil prices were down more than 1 percent in Asian trade as industry data showed a bigger than expected build in U.S. inventories. Overnight, U.S. stocks rose sharply in a broad rally as Americans voted in one of the tightest presidential elections in decades and data showed the U.S. services sector accelerated to a more than two-year high in October. The tech-heavy Nasdaq Composite surged 1.4 percent, the S&P 500 rallied 1.2 percent and the Dow added 1 percent. European stocks closed higher on Tuesday as focus shifted to the U.S. election and upcoming monetary policy announcements. The pan European STOXX 600 ended flat with a positive bias. The German DAX rose 0.6 percent and France's CAC 40 gained half a percent while the U.K.'s FTSE 100 slipped 0.1 percent.