Connect with us

Hi, what are you looking for?

Economy

Asian Markets rally between the uS elections’ controversies

Asian markets rallied Thursday as Joe Biden inched towards becoming the next US president, with investors now hoping lawmakers will soon pass a much-needed new stimulus package.

Traders brushed off Donald Trump´s claims of fraud and of calling to stop vote-counting by calling in lawyers, instead of taking heart from the failure of a Democratic sweep of Congress. This change would have likely led to tax hikes and regulation.

While crucial battleground states remain close, the former vice president said he was confident that “when the count is finished, we believe we will be the winners”.

All three main indexes on Wall Street surged, with the Nasdaq soaring almost 4% as tech titans including Apple and Facebook breathed a sigh of relief.

“Up until about last week, the consensus belief was a full blue sweep — now that´s changing you´re seeing a repricing taking place in the market,” Anna Han, at Wells Fargo Securities, told Bloomberg TV.

Latest Updates

ISLAMABAD: Prime Minister Shehbaz Sharif today approved the name of Syed Asim Munir as the next army chief of Pakistan. At present, Lt-General Syed...

Latest Updates

ISLAMABAD: Family members of army chief General Qamar Javed Bajwa have become billionaires in the past six years _ during the six-year extended tenure...

Articles

The Foreign Minister also welcomed the launch of joint direct flights by Pakistan Airlines and Ethiopian Airlines between the two countries.

National

ISLAMABAD: Federal Information Minister said the Prime Minister has appointed Syed Asim Munir as the next army chief of Pakistan. Asim Munir is the...