Tokyo: Nikkei index hits 29-year high after Biden win
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[TOKYO] Tokyo stocks surged more than two per cent to end at a 29-year high on Monday after Joe Biden was elected the next US president in a close contest that eventually delivered the outcome investors expected.
The benchmark Nikkei 225 index gained 2.12 per cent, or 514.61 points, to end at 24,839.84, while the broader Topix index added 1.41 per cent, or 23.41 points, to 1,681.90.
The Nikkei is now sitting at levels not seen since 1991.
"Investor sentiment was greatly improved due to receded US political risks," Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.
The gains came after the US market ended the best week since April, although Friday's Wall Street session was lukewarm as vote-counting was still ongoing.
AFP
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
