() – Asian markets post gains in mid-afternoon trading, tracking gains on Wall Street, as Trump inches closer to the presidency. Japan’s Nikkei 225 closed up 2.6%, while Australia’s S&P ASX gained 0.8%.
“A strong Trump presidency and a weak Ishiba government should be a good combination for Japanese markets, especially stocks, as US pension money heading to Asia will continue to face challenges investing in China.” ”said Neil Newman, head of strategy at Astris Advisory in Tokyo.
Last month, Japanese voters gave a sharp rebuke to the country’s long-standing ruling party, led by newly appointed Prime Minister Shigeru Ishiba, plunging the world’s fourth-largest economy into a rare period of political uncertainty. Japan’s Liberal Democratic Party, which has governed almost continuously since 1955, lost its parliamentary majority in the powerful Lower House for the first time in 15 years.
This Wednesday, Chinese stocks followed a different trend than the regional one. The Shanghai Composite Index was in negative territory, while Hong Kong’s Hang Seng Index was trading 2.7% lower.
US stocks rallied in after-hours trading Tuesday night, with bitcoin hitting a new high as Wall Street digested the first results of the presidential election.
Add Comment