Investors will now be looking to see Joe Biden’s foreign and economic policy plans.
HONG KONG: Global stocks rallied with oil and high-yielding currencies Monday after Joe Biden was declared winner of the US election at the weekend, lifting a major source of uncertainty, while traders are hoping lawmakers will now focus on passing a new stimulus for the world’s biggest economy.
While Donald Trump has yet to concede and has launched several legal challenges, it is widely accepted that Biden will become the 46th president, removing a crucial hurdle for equity traders this year.
Observers said the focus will now be on Biden’s economic and foreign policy approach, with optimism for a less tumultuous leadership following four years of the bombastic real estate tycoon.
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