Singapore, other Asian markets up on progress in Biden transition

SINGAPORE shares advanced on Tuesday following news of President Donald Trump giving the green light for President-elect Joe Biden to proceed with his White House transition, boosting the already positive sentiment from prospects of an economic recovery.

Oanda Asia-Pacific senior market analyst Jeffery Halley said: "Markets love certainty and the move by Trump overnight partially removes ambiguity over the Presidential succession."

With a Biden administration "expected to be much less isolationist", and the hope that the US will re-engage on global trade and improve relations with China, it will also be positive for Asia, he said.