Asian markets soar following Joe Biden's presidential election win

Shares in Australia were also higher, with the S&P/ASX 200 gaining 1.61%.

Nov 09, 2020 11:11 IST India Infoline News Service

Asian stock markets soared today after Joe Biden was declared the winner of the U.S. presidential election against Donald Trump.

According to the media reports, Joe Biden reached the 270 electoral votes required to claim the presidency after a narrow victory in the key battleground of Pennsylvania. Biden delivered a victory speech on Saturday.

Reacting to this, stock market in Japan, the Nikkei 225 jumped over 2.4%, the Topix index added 1.54%, South Korea’s Kospi also rose 1.43%, the Shanghai Composite up 1.9% and Hong Kong’s Hang Seng index advanced 1.53%. Shares in Australia were also higher, with the S&P/ASX 200 gaining 1.61%.

China’s exports surged 11.4% in October as compared to a year earlier, according to official statistics released over the weekend.

Meanwhile, on Friday US stocks end the best week since March as indices roar back with Nasdaq leading the technology charge.

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