Joe Biden Presidency Continues to  Aid Prices in Asia-Pacific on Monday

Stocks responded positively to Joe Biden wins in Asia-Pacific on Monday as investors in the region jumped on financial assets in anticipation of a better approach to the China-US trade deal and global economy.

Japanese Nikkei 225 rose 2.5 percent while the Topix index expanded by 1.54 percent. South Korea’s Kospi added 1.44 percent.

Mainland Chinese stocks joined the race with the Shanghai composite gaining 1.9 percent while the Shenzhen component appreciated by 2.43 percent.

In Hong Kong, the Hang Seng index rose by 1.62 percent.

Stocks in Australia were also higher as S&P/ASX 200 expanded by 1.61 percent. The gauge of the index in the region, the MSCI index of Asia-Pacific that excludes Japan expanded by 1.43 percent.

Similarly, crude oil prices rebounded from a 4 percent decline recorded on Friday to gain over 2 percent on Monday.

Chinese yuan strengthened to 6.5789 to a US dollar after declining to over 6.65 per dollar last week.

Japanese yen also gained, rose from 104.3 against the US dollar to 103.38 per dollar.

Investors are projecting that a Joe Biden presidency would restore calmness to the world and else rising global uncertainties amid COVID-19.