2 weeks Ago
Currency traders watch their computer monitors near the screens showing the images of Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala Harris, and the Korea Composite Stock Price Index (KOSPI), right, at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Nov. 6, 2024. (Associated Press Photo/Lee Jin-man) Hong Kong, China — Most Asian markets rose with the dollar and bitcoin on Wednesday as traders await the outcome of the knife-edge US presidential election, with bets increasing on a Donald Trump victory as early results rolled in.
The Republican candidate and his Democratic opponent Kamala Harris have picked up expected wins in safe states, but signs that the former president was edging in Georgia, one of several crucial swing states, boosted the so-called Trump Trade. Investors have been jockeying for position ahead of the election, which polls have shown to be too close to call. READ: LIVE UPDATES: 2024 US presidential election Analysts said attention was also on Congressional races, adding that a clean sweep for Trump and Republicans would likely boost the dollar and Treasury yields owing to his plans to cut taxes and impose tariffs on imports.
With polls closing in swing states including Georgia, Pennsylvania, Michigan and North Carolina, investors are keeping a close eye on voting patterns. However, the FBI warned of bomb threats in “multiple” US states, adding that none were credible but many appeared to originate from Russia. In early trade, markets in Tokyo, Sydney, Shanghai, Seoul, Singapore, Wellington and Taipei rose, though there were losses in Hong Kong.
The advances came after all three main indexes on Wall Street climbed more than one percent. The dollar also jumped against its peers, including the yen, pound and euro, and piled on more than one percent against the Mexican peso. Bitcoin surged about $2,700 to $71,471 while closing in on its March record of $73,797.
98. “Georgia starting to glow red may have been the trigger,” Max Gokhman, at Franklin Templeton Investment Solutions, referring to early exit polls. “If I had to pick one asset as a barometer of Trump sentiment it would be bitcoin.
” Tokyo – Nikkei 225: UP 1.3 percent at 38,984.78 Hong Kong – Hang Seng Index: DOWN 1.
4 percent at 20,723.83 Shanghai – Composite: UP 0.1 percent at 3,391.
58 Euro/dollar: DOWN at $1.0838 from $1.0930 on Tuesday Pound/dollar: DOWN at $1.
2964 from $1.3035 Dollar/yen: UP at 152.92 yen from 151.
60 yen Euro/pound: DOWN at 83.60 from 83.82 pence West Texas Intermediate: DOWN 0.
4 percent at $71.67 per barrel Brent North Sea Crude: DOWN 0.5 percent at $75.
12 per barrel New York – Dow: UP 1.0 percent at 42,221.88 (close) Subscribe to our daily newsletter By providing an email address.
I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . London – FTSE 100: DOWN 0.1 percent at 8,172.
39 (close).
