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Asian stocks led higher by tech, bonds rally on US election nail-biter | Malay Mail

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SYDNEY, Nov 4 — Share markets veered higher in wild Asian trading today as results from the US presidential election proved far closer than polls had predicted, leaving the outcome deeply in doubt. Investors had initially wagered that a possible Democratic sweep by Joe Biden could ease political...

Wednesday, 04 Nov 2020 12:48 PM MYT

But the mood quickly changed on signs President Donald Trump could well snatch Florida and was much closer in other major battleground states than polls had predicted. Andrew Brenner, head of international fixed income at NatAlliance Securities, said the move in techs looked like it was a play on the Senate potentially staying Republican.

Some investors were now hedging against the risk of a contested election or at least a drawn-out process as mail-in ballots were counted.“I think the odds of a clean sweep are diminishing, almost by the minute. That reduces the possibility, or the likelihood at least of a large stimulus programme being agreed to in the first days of a Biden administration.”

 

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