x1 gaming Asian markets rise with dollar, bitcoin as early US results roll in

Updated:2024-11-07 03:32    Views:153

Asian markets rise with dollar, bitcoin as early US results roll inAsian markets rise with dollar, bitcoin as early US results roll in

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. (AP 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.

Article continues after this advertisement

Investors have been jockeying for position ahead of the election, which polls have shown to be too close to call.

FEATURED STORIES BUSINESS BIZ BUZZ: Tesla is coming to town BUSINESS SteelAsia ships P511.24M worth steel bars to Canada BUSINESS Hermosa by Vista Land, making way for the finer things in life

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.

Article continues after this advertisement

With polls closing in swing states including Georgia, Pennsylvania, Michigan and North Carolina, investors are keeping a close eye on voting patterns.

Article continues after this advertisement

However, the FBI warned of bomb threats in “multiple” US states, adding that none were credible but many appeared to originate from Russia.

Article continues after this advertisement

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.

Article continues after this advertisement

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.”

Key figures around 0150 GMT

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)

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

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 8x1 gaming,172.39 (close)

READ NEXT PHILCONSTRUCT Celebrates 35 Years of Building Excellence 9-month DigiPlus profit reached P8.75B EDITORS' PICK DOJ issues lookout bulletin on 7 OVP execs LTO names driver, owner of SUV with No. ‘7’ plate ⁠Marcos extends congratulations to Trump, eager to strengthen PH-US ties Tulfo confirms passenger of SUV on busway is related to a senator PBA Finals: ‘No excuses’ for Ginebra after crushing Game 5 loss US support for PH arbitral win started in 1st Trump term–envoy MOST READ Comelec: 12 more bets file COCs for BARRM polls LTO names driver, owner of SUV with No. ‘7’ plate Trump’s mass deportation plan – and who wants to stop him Trump’s decisive victory in a deeply divided nation Follow @FMangosingINQ on Twitter --> View comments