November 29, 2020

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Asian equity markets up after winning Biden

Asian equity markets up after winning Biden

The news that Joe Biden has won the US presidential election seems to reassure Asian investors. The Japanese stock exchange opened on Monday morning at more than one percent. The Chinese stock markets also did well when they opened. Later, Wall Street would expect a profit too.

Tokyo’s leading Nikkei rose 1.12 percent to 24,596.85 points at 1 a.m. local time. The Topix index rose 0.85 percent to 1,672.62 points. The Hang Seng Index of the Hong Kong Stock Exchange also opened strongly on Monday with an increase of 1.73 percent to 26,157.77 points. The Chinese stock exchanges in Shanghai and Shenzhen rose less markedly by 0.52 percent to 3,329.43 points and by 0.55 percent to 2,294.59 points.

Wall Street would soon open in positive territory too. The opening indicators, the so-called futures, were in the green on Sunday evening. Around midnight (Belgian time), the futures of the Dow Jones (for December) rose by 0.5 percent, those of the Nasdaq by 0.6 percent and the S&P 500 by 0.5 percent. The opening indicators give a general picture of how the financial market should open, provided that no further catastrophe occurs in the meantime.