Most of the Asian equity benchmarks are trading in green on Thursday, in tandem with the firm trend in US stocks followed by the reports that Democratic candidate, Biden is tipped to win the election. Biden win is likely to be favourable for emerging markets equities, including India, considering his plans to raise taxes and to bring in stricter financial regulation. Oil shares are easing despite gain in crude oil rates overnight. Japan’s Nikkei is extending its gain from the previous session catching up with its US counterparts as the likelihood of gridlock in Congress made investors optimistic that major policy changes would be difficult to enact. Japanese exporters are mixed with stronger yen. Among the Asian markets, Singapore, Hong Kong, Taiwan South Korea, Indonesia, China and Malaysia are in positive side.
Nikkei 225 up by 338.37 points, 1.43% to 24,033.60, Straits Times rose by 58.24 points 2.31% to 2,574.22, Hang Seng lifted by 656.00 points or 2.64% to 25,542.14, Taiwan Weighted boosted 24.84 points or 0.19% to 12,892.74, KOSPI Index increased 49.86 points or 2.12% to 2,407.18, Jakrata Composite jumped by 94.49 points or 1.85% to 5,199.69, Shanghai Composite widened by 30.22 points or 0.92% to 3,307.66 and FTSE Bursa Malaysia KLCI was up by 17.15 points or 1.17% to 1,481.76.
