Asian stocks rise as US vote points to higher bar for regulation

Asian shares jumped on Thursday as investors cheered U.S. election results that pointed to a government less likely to impose tough financial regulations, while sterling fell on reports that the Bank of England may ease policy more than expected.

E-Mini futures for the S&P 500 added 0.27per cent, Japan's Nikkei climbed 0.3per cent, Australian shares rose 0.5per cent, while MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3per cent in early trade. Investors increasingly expect the Republican and Democratic parties to retain their respective control of the Senate and the House of Representatives, paving the way for a split legislature that makes it harder to introduce new laws and regulations.

Oil prices were firm, with U.S. crude at US$39.06 a barrel, after data showed a large decline in U.S. crude inventories.

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