Asian Stock Markets Split Amid Tight US Election

The Asian stock markets were feverishly scrutinizing the first results of the American presidential election.
The Tokyo Stock Exchange has been dynamic since its opening, in the wake of the previous day’s gains on Wall Street: around 5:20 GMT the Nikkei index climbed 2.01% to 23,764.22 points and the Topix 1.37% to 1,629 , 93 points.

In contrast, in Hong Kong, the Hang Seng index stagnated (-0.09%), the Shanghai composite index fell 0.26% and the Shenzhen index fell 0.4%.

In addition to the US election, Chinese markets were hit hard by the postponement announced the day before the mega-IPO of Ant Group, the Chinese online payments juggernaut, which weighed down the share price of Alibaba, its former parent company.

The oil market continued its momentum of the previous day, still surfing on speculations of an extension of the duration of production cuts by OPEC countries and their allies.

Around 5:10 a.m. GMT a barrel of US crude WTI gained 2.28% to 38.52 dollars and a barrel of North Sea Brent rose 2.19% to 40.58 dollars.

A victory for Democrat Joe Biden, who wants to limit the exploitation of shale oil in the United States, could also raise the price of black gold in the short term.

US stock index futures were up, especially those on the Nasdaq. “The market is watching the likelihood of a landslide victory for Democrats declining, and therefore anticipating fewer oppressive restrictions for tech giants,” said AxiCorp analyst Stephen Innes.

The dollar rose against the yen around 5:25 GMT, at a rate of one dollar to 104.85 yen against 104.49 yen on Tuesday at 9:00 p.m. GMT. The greenback also appreciated against the euro, which was worth $ 1.1665 against $ 1.1715 the day before.

Polling stations in the United States have gradually closed from east to west, the last closing at 1:00 a.m. local time (Wednesday 6:00 a.m. GMT).

The American night promised to be long, as Donald Trump was declared the winner in Ohio and would be on the verge of winning the very important key state of Florida, which he had already won by surprise in 2016.

The outgoing president’s campaign team has already claimed victory in the “Sunshine State”.

These successes ruled out the scenario of a “blue wave”, the color of the Democratic Party. Joe Biden was due to speak shortly after 5.30am GMT, his campaign team announced.

Elsewhere, unsurprisingly, the two candidates shared victories for the time being in a series of states that were promised to them, mainly in the South and the Midwest for the outgoing Republican president, and in the Northeast and the West. for his Democratic rival.

The name of the winner may not be known quickly, however, due to postal voting, which risks delaying the count in many key states or truncating preliminary results.

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Asian Stock Markets Split Amid Tight US Election - /10


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