Skip to comments.Asian stock markets rise as US elects new leader
Posted on 11/04/2008 9:53:20 PM PST by NormsRevenge
HONG KONG Asian markets rose Wednesday, tracking overnight gains on Wall Street, amid hopes for a year-end rally and that a new U.S. president would act to boost the sluggish American economy.
With Barack Obama's victory in the U.S. presidential race, investors were hopeful he could focus renewed energy on tackling deteriorating conditions in the world's largest economy a vital export market that have dragged on growth around the world, analysts said.
"Investors also are hoping that Obama can make a number of changes to help the economy," he said.
"It's an excuse for the market to rally, there's less political uncertainty and that gives investors more confidence in the short term," said Frank Gong, a Hong Kong-based managing director for JP Morgan Securities. "But technically it's more about the credit crisis settling down and the market's fear coming down."
(Excerpt) Read more at news.yahoo.com ...
Uncertainty is over. The socialist is in place. Many up and down days ahead so don’t read too much into it.
Kiss your 401k goodbye.
AP can wish all it wants. But, those of us who live here and work here and pay taxes here are looking at a rather steep decline as credit card defaults skyrocket, consumer spending plunges and the economy grinds to a halt. Let these fools buy. I’ll be selling.
Of course the Asian markets are rejoicing. When The Anointed One creates Great Depression 2.0, the Asian countries will then have the strongest economies in the world.
Kiss the market goodbye!...6900 Dow....soon!
And the sky will be just a little bit more blue tomorrow....the grass just a little more green.....the birds will sing just a little bit louder......
The markets went up because markets hate uncertainty. If McCain won, the same thign would have happened — viz. the markets would rise as the US now has a defined leader for the next 4 years. It’s the same with elections anywhere. Markets hate uncertainty as you can’t predict which way things will be then.
That’s what I said....the uncertainty is over....obama is installed. One possibility has been removed and now the markets will act knowing hussein is coming. There is more certainty in the markets now then hours ago.
yessir — I’m convinced the markets don’t care too much which way the politicos lean during elections, as long as the elections are over and there is a confirmed winner
Asia is rallying because NY rallied. That’s all. They almost always copy us when we have a big rally or selloff. Has nothing to do with Obama.
The CNBC jackasses forgot how to count in all their Obamania tonight. Maria sqealed that the “Dow futures are up 200” and that we would see a “huge Obama rally” tomorrow. In fact, at the time futures were down 12, and as of this hour are down 60.