Picture used for illustrative purpose. File

Gulf Today Report

Asian shares advanced on Monday after the US election results were announced making Joe Biden the president-elect. 

Japan's Nikkei 225 surged 1.9% to 24,794.44. Australia's S&P/ASX 200 added 1.6% to 6,291.10. South Korea's Kospi added 1.1% to 2,444.13. Hong Kong's Hang Seng rose 1.3% to 26,037.96, while the Shanghai Composite gained 1.2% to 3,350.34. 

Jingyi Pan, senior market strategist at IG in Singapore said for Asian markets, Joe Biden’s win eliminates some uncertainties. 

If Congress is split between a Democratic-controlled House and a Republican-controlled Senate, it might be difficult for Biden to raise taxes.  

READ MORE 

Sharjah's package will open more investment avenues

Japanese automakers raise profit forecast on rising China demand

Indonesia sees first recession in 2 decades as COVID-19 spreads

European Stock 

European stock index gained on Monday in a three-week high as Joe Biden became the president-elect. 

Stoxx 50 futures were up 1.5% by 06:40 GMT, while German DAX futures and London's FTSE futures gained 1.6% and 1.3%, respectively.

Democrat Joe Biden win has raised prospects for better trade ties between Washington and Europe.