Asia shares soar after Biden beats Trump in US election

Biden Vs Trump

Markets in the Asia Pacific region on Monday welcomed Joe Biden’s victory over President Donald Trump in the US election, with Japan’s benchmark Nikkei 225 Stock Average surging more than 2 per cent.

The Nikkei gained 2.12 per cent to end at 24,839.84, hitting a fresh 29-year-high, while the broader Topix index rose 1.41 per cent to 1,681.9 on the day.

The Taiwan Stock Exchange closed up 1.19 per cent, reaching a record 13127.47 points.
Australia’s benchmark S&P/ASX200 index climbed 1.75 per cent to 6,298.8 on the day and the broader All Ordinaries index jumped 1.89 per cent to 6,515.7.

South Korea’s benchmark Kospi Index added 1.27 per cent to close at 2,447.2.

China’s Shanghai Composite Index rose 1.67 per cent and Hong Kong’s Hang Seng Index advanced 1.22 per cent.
Biden has been declared the winner of Tuesday’s election, although Trump has refused to concede victory. Trump has several legal challenges pending, but analysts are sceptical that they could affect the result in any significant way.

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