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