HONG KONG: Most Asian markets rose Tuesday as news that Donald Trump’s team will now work with Joe Biden to begin his transition into the White House built on optimism that vaccines could soon be rolled out around the world.
The president tweeted that it was time for the General Services Administration to “do what needs to be done”, though he remained steadfast in his claim that he won the election and would carry on with legal challenges to the result. The news came as Biden tipped former Federal Reserve boss Janet Yellen for Treasury Secretary, a move welcomed by traders particularly after incumbent Stephen Mnuchin last week sparked a spat with the central bank over access to virus relief cash.
And with the northern hemisphere winter approaching there are warnings of worse to come, which could deal another blow to the global economy.