The yen slipped and Japanese shares gained Wednesday amid speculation that Prime Minister Shinzo Abe will call an unscheduled election. Australia’s dollar fell and Brent crude oil extended its decline below $80 a barrel.

Japan’s currency weakened 0.2 percent in Tokyo and the Topix index climbed 0.7 percent after a report that Abe has decided to call an election. The Hang Seng Index fluctuated as Tencent Holdings Ltd., China’s biggest online messaging operator, fell after missing earnings estimates. Growth in Chinese retail sales and industrial output probably held steady in October, according to economists’ estimate, with speculation in Japan mounting that Abe will seek a mandate to delay a planned sales-tax increase.

The Aussie slid 0.3 percent after a central bank official said it hasn’t ruled out intervention to weaken the currency. Oil dropped amid concern OPEC won’t cut output to ease a global glut.

“People are looking for the next story, whether it’s M&A activity or some good economic numbers,” Tony Farnham, a Sydney-based strategist at Paterson Securities Ltd., said by phone. “Investors are looking for a bit more clarity on how Europe is going to go about its version of quantitative easing.”

The yen slid to 115.76 per dollar after rising 0.3 percent last session from a seven-year low. Twenty-four of the 33 industries on the Topix advanced.

The Hang Seng Index was little changed after three straight days of advance, and a gauge of Chinese companies listed in the city climbed 0.3 percent. Tencent, operator of China’s most popular messaging service, slid 1.5 percent after announcing a surprise profit drop amid slowing revenue growth.