Singapore, regional markets surge on eve of US election
Sentiment buoyed by prospects of US fiscal stimulus to be unleashed post-election.
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MARKETS around the world turned positive on the eve of the US presidential election, even though it had not become any clearer whether Donald Trump or Joe Biden would win.
While a Biden win was initially thought to be negative for stocks - due to the expectation that he would roll back the corporate tax cuts implemented by Mr Trump - the markets now seem more focused on the broader fiscal stimulus that is likely to be unleashed regardless of which candidate wins.
The broad-based S&P 500 Index was up 1.23 per cent overnight, outpacing the 0.42 per cent gain in the technology-focused Nasdaq Composite Index.
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