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Asia’s stock markets are hoping for an economic recovery

I.In hopes of a recovery in major economies, Asia’s investors bought stocks on election day in the United States. The MSCI index for the Asian markets excluding Japan was 1.2 percent higher, only one percent away from its two-and-a-half-year high, which it reached in mid-October. In China the stock exchanges gained more than one percent, in Hong Kong even more than two. In Japan, the stock exchange was closed for a public holiday.

“We are raising our recommendation for the Asian markets excluding Japan because China and other Asian countries have achieved better results in containing the coronavirus and are also ahead in the economic restart,” wrote the experts at the Blackrock asset management company.

A little reluctance to vote in America

The election in the United States was also a topic of conversation. “We all hate insecurity. We all want the mood to improve. That’s why we all hope for a clear, undisputed winner, ”said Song Seng Wun, economist at CIMB Private Banking.

American President Donald Trump and his Democratic challenger Joe Biden campaigned for votes in particularly competitive states on Monday. However, this year a particularly large number of people have already voted by postal vote. It could therefore take longer than usual until all votes are counted.

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