Asian shares rose with Nikkei by 2.2% after Macron’s triumph

Asian shares

Most of the shares across Asia settled higher last Monday’s trading session after the triumph of Emmanuel Macron in the presidential elections in France on Sunday, shares of Nikkei reached its best level.

Japanese benchmark Nikkei 225 rose more than 2.18 percent. Nikkei’s average share touches its highest level since December 2015. In Australia, S&P/ASX 200 was 0.57 percent higher, with its materials sub-indexes rising 1.28 percent and energy sector up by 2.42 percent. Across the Korean Strait, Kospi index gained 0.55 percent.

Markets in China however didn’t go with the flow. The Shenzhen composite fell about 0.86 percent and the Shanghai Composite lost 0.92 percent. While the Hang Seng Index marginally rose by 0.35 percent.

Centrist Emmanuel Macron surpassed his rival Marine Le Pen in Sunday’s presidential election in France, along with the country’s interior ministry saying that the former had preserved more than 65.1 percent of the vote. Macron was named the youngest president in France with the age of 39 years old.

Ray Attrill, National Australia Bank’s head of FX strategy says the feedback from the market was subdued right after the outcome from the polls. The euro/dollar pair significantly bounced with the euro previously reaching its six-month highs in Monday’s session, and trades at $1.10 versus the dollar. The pair currently traded at $1.0969.

Back in Asia, China’s April trade figures suggested that its imports were 11.9 percent higher while exports rose more than 8 percent on year in terms of dollar. The two figures, however, didn’t meet the expectations of market analysts.

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