Asian stock markets are divided against the backdrop of intensifying competition in the results of the US elections – economic – financial markets


Tension gripped Asian stock markets on Wednesday, awaiting the first results of the US presidential election, amid intense competition between President Donald Trump and his Democratic opponent, Joe Biden, as results were delayed due to the mail count.

The Tokyo Stock Exchange has witnessed vitality since its opening, the day after gains on Wall Street, so the Nikkei index rose at about 5.20 GMT by 2.01% to 23,764.22 points, while the Topix index rose 1.37% to 1629.93 points.

It ended its session up 1.72 percent at 23,3695.23 points.

Before closing Tokyo, the outgoing US President expected on Twitter to achieve a “big victory” and accused the Democrats of trying to “steal” the elections, which heralds a potential challenge from his camp in the event of defeat.

And Joe Biden is still leading the way in the number of adult voters. “Keep the faith, we will prevail!” He told his supporters. He said to his supporters, and appeared optimistic about Arizona and Pennsylvania, two other major states.

In Hong Kong, the Hang Seng Index remained stable (-0.09%), while the Shanghai Composite Index declined by 0.26% and the Shenzhen Index declined by 0.4%.

Until the US elections, Chinese markets were shocked with the announcement of the postponement of the public offering of the Chinese electronic payment giant “You”, which was reflected in the share price of Alibaba Group, its former parent company.

The oil market continued to rise, which it recorded on Monday, driven by speculation about the extension of OPEC members and allied countries for the period to reduce their production.

The price of West Texas Intermediate crude rose by 2.28% at about 5.10 GMT to 38.52 dollars per barrel, while the price of Brent North Sea oil increased by 2.19% to 40.58 dollars.

In the event that Biden wins, who intends to limit the extraction of shale oil in the United States, oil prices may rise in the near term.

And futures contracts on the US stock exchange indexes increased, especially the Nasdaq indexes. “The market is watching the likelihood of a landslide victory for the Democrats diminish, and is therefore anticipating less stringent restrictions on the tech giants,” said analyst Stephen Ince of Accorp.

– The possibility of a “blue tide” has dissipated – The price of the dollar rose against the yen by about 5.25 GMT, to reach 104.85 yen per dollar, compared to 104.49 yen on Tuesday at 21:00 GMT. The dollar also rose against the euro to 1,1665 dollars per euro, compared to 1,1715 dollars on Monday.

And closed polling stations in the United States gradually from the east coast to the west coast of the country, and the last voting ended at 1:00 pm (Wednesday at 6:00 GMT).

The competition between the candidates intensifies during the vote counting processes with Trump winning a number of states, especially the main state of Florida for re-election, which dispels expectations of a democratic “blue tide” sweeping the United States, even though Biden is still in the forefront of the announced results so far.

Pending the completion of the results, each of the candidates expected his victory, but the name of the winner may not be announced soon due to the volume of mail voting, which will delay the count of votes in a number of crucial states.



Please enter your comment!
Please enter your name here