Asian Markets Trading Higher On Obama Win
STEVE INSKEEP, host:
NPR's business news starts with global stock markets and the new president.
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INSKEEP: One of the things investors hate most is uncertainty. And there is a little bit more certainty this morning because a major question has been decided, the U.S. election. Stock investors in Asia showed signs of relief today. Japan's main index ended the day up more than four percent. Hong Kong rallied more than three percent. Markets in Australia, South Korea, and China also ended the day sharply higher.
Some analysts say a Barack Obama administration is likely to boost spending to stimulate the economy, and that could be good for Asian exporters who sell to American consumers. Today's gains also come on the tail of a record Election Day rally in the United States, and there's been a week of market gains due to signs of a thawing out in the credit markets. European stocks, we should mention, are trading lower today. The market indicators in France, Germany, and Britain are being dragged down by the shares of troubled banks.
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