Asian shares, European stock futures jump following US election results
09 Nov 2020
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.