Bolstered by the prospect of the US presidential elections, the stock market on Wednesday swung from losses to profits in Asian markets. Interestingly, the polls resulted are turning out to be far closer than predicted by news channels and experts. Both Donald Trump and Joe Biden are fighting it tooth and nail.
The competition between the two is going down the wire. However, investors had also predicted a landslide Triumph of Joe Biden, but going by the wave and rallies wagered by Trump at the last moment, things are tighter between the two.
Trump had gained Texas and Florida in his stride, one of the biggest in terms of vote gains.
Triggered by the tech sector, NASDAQ jumped by 3.6 per cent. FTSE futures swung by 0.7 per cent while EUROSTOXX 50 futures garnered 0.5 per cent strength. Meanwhile, S&P 500’s E-mini futures gained 1.4 per cent profits.
Japan’s Nikkie surged by 2 per cent, while Chinese blue chips spiked by 0.5 per cent. Even the US dollar against a currency basked catapulted its gains after losing it in previous sessions to 93.956.