STI climbs 1.19% as Asian equities rally following Biden's victory

SINGAPORE stocks rallied on Monday following news that Democrat challenger Joe Biden was declared president-elect of the United States over the weekend, easing the uncertainty that loomed over the outcome of the elections.

Asian markets elsewhere continued to register gains from last week with key benchmarks for Tokyo, Hong Kong, Seoul, Jakarta and Kuala Lumpur all ending higher.

Daniel Gerard, senior multi-asset strategist at State Street Global Markets, said that Mr Biden's win "has been embraced by markets as it provides narrative of desire for reconciliation, diplomacy and more international cooperation".