SINGAPORE – As Asian markets increased as expected after the US mid-term election, fears of a sudden shift in trade and economic policies eased.
SCORE KEEPING: Japan's benchmark Nikkei 225 rose by 1.9 percent to 22,509.10, even when orders for machines lost a record of 18.3 percent in September due to natural disasters. Kospi in South Korea increased by 1.4 percent to 2,107.90. Hang Seng in Hong Kong added 0.7 percent to 26,331.35 and the Shanghai Composite rose by 0.6 percent to 2,658.29. The S & P / ASX 200 of Australia fell 0.5 percent higher to 5.924.60. Shares were higher in Taiwan, Singapore and Indonesia, but fell in the Philippines.
WALL STREET: Asian investors took the lead through a rebound on Wall Street. Large technology and consumer companies recovered and three-quarters of the shares on the New York Stock Exchange traded higher as the results of the US mid-term elections poured in. The S & P 500 index rose by 2.1 percent to 2,813.89, the highest level in four weeks. The Dow Jones Industrial Average was 2.1 percent higher at 26,180.30 and the Nasdaq composite rose 2.6 percent to 7,570.75. The Russell 2000 index of shares of smaller companies rose 1.7 percent to 1,582.16.
MEANS OF THE UNITED STATES: In accordance with most polls, the Democrats took over the House of Representatives, while the Republicans held a majority in the Senate. Traders were hopeful that a greater presence of the Democrat could act as a check on President Donald Trump, but it is unlikely that he will change his position with China, which he will lock in an escalating trade dispute. Because the possibilities for compromise and major agenda items seem limited, politicians have less chance to displace the performance of the strong US economy.
THE ANALYST TAKES THE FOLLOWING: "Wall Street's overwhelming favor sets the stage for Asia markets to move forward in the final rebound," said Jingyi Pan of IG in a commentary on the market. "Maybe they were wary of the results and reactions of the Brexit and the 2016 presidential election in the US, but they were seen because they once played according to script, because the elimination of the midterm risk is a new confidence in the stock space, "she added. .
ENERGY: Benchmark US crude oil reached 1 cent to $ 61.68 by e-commerce on the New York Mercantile Exchange. It dropped by 54 cents to $ 61.67 per barrel in New York. Brent crude oil fell by 10 cents to $ 71.97. The contract decreased by 6 cents to $ 72.07 in the previous session.
CURRENCIES: The dollar rose from 113.57 yen at the end of Wednesday to 113.66 yen. The euro has risen from $ 1.1426 to $ 1.1430.
AP Markets Writer Marley Jay contributed to this report.
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