Asian shares shoot higher as US stocks inch toward their records

Shares advanced Wednesday in Asia after U.S. stocks drifted closer to their records, while U.S. futures edged lower.

South Korea’s Kospi led gains in the region, jumping 2.4% to 2,763.32 after the liberal opposition candidate Lee Jae-myung was elected president.

Lee’s victory caps months of political turmoil triggered by the stunning but brief imposition of martial law by the now-ousted conservative leader Yoon Suk Yeol. Top priorities will include government spending and trade negotiations with the United States.