SINGAPORE — Stocks in Asia-Pacific jumped on Monday as investors in the region reacted to Democrat Joe Biden's defeat of incumbent Donald Trump in the U.S. presidential race, according to NBC projections.
In Japan, the Nikkei 225 jumped 2.5% while the Topix index added 1.54%. South Korea's Kospi also rose 1.44%.
Mainland Chinese stocks also saw robust gains by the afternoon, with the Shanghai composite up 1.9% while the Shenzhen component gained 2.43%. Hong Kong's Hang Seng index advanced 1.62%. China's exports surged 11.4% in October as compared to a year earlier, according to official statistics released over the weekend.
Shares in Australia were also higher, with the S&P/ASX 200 gaining 1.61%.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.43%.
Chinese tech stocks soar
Shares of Chinese tech firms in Hong Kong soared in Monday trade.
By Monday afternoon in Hong Kong, shares of Chinese tech giant Tencent jumped 2.93% while Alibaba gained 3.55%.
China's largest chipmaker SMIC, which has come under scrutiny by the Trump administration, saw its Hong Kong-listed stocks soar 6.85%. ZTE also saw a sharp rise as it gained 8.79%.
The broader Hang Seng Tech index surged 4.48% while the Nasdaq-style ChiNext board on the mainland added 3.44%.
Former U.S. vice president Biden won following his projected win in the states of Pennsylvania as well as Nevada, according to NBC News projections on Saturday. Still, Trump is refusing to concede the election, claiming it's "far from over."
Meanwhile, on the coronavirus front, infections continue to surge stateside. The U.S. recently reported more than 126,000 new infections for two day in a row. Globally, the number of coronavirus infections crossed the 50 million mark on Sunday, according to Reuters.
Oil prices jump; yuan strengthens
Oil prices were higher in the afternoon of Asian trading hours, with international benchmark Brent crude futures up 2.59% to $40.47 per barrel. U.S. crude futures jumped 2.75% to $38.16 per barrel.
The onshore Chinese yuan strengthened to 6.5789 per dollar, after seeing levels above 6.65 last week. Meanwhile, its offshore counterpart changed hands at 6.5633 against the greenback.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 92.162 following a decline in recent days from levels above 93.1.
The Japanese yen traded at 103.38 per dollar after strengthening from levels above 104.3 against the greenback last week. The Australian dollar changed hands at $0.7291 after last week's rise from levels below $0.711.
"asian" - Google News
November 09, 2020 at 06:38AM
https://ift.tt/2U8gqZC
Asia-Pacific stocks jump as investors react to Biden's presidential election win; oil prices surge - CNBC
"asian" - Google News
https://ift.tt/2STmru2
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment