Asia stocks jump as investors react to Biden’s presidential election win

Asia stocks jumped on Monday as investors in the region reacted to Democrat Joe Biden’s defeat of incumbent Donald Trump in the U.S. presidential race.

In Japan, the Nikkei 225 jumped 2.12 percent to close at 24,839.84 while the Topix index added 1.41 percent to end its trading day at 1,681.90. South Korea’s Kospi also rose 1.27 percent to close at 2,447.20.

Mainland Chinese stocks also saw robust gains on the day, with the Shanghai composite up 1.86% to about 3,373.73 while the Shenzhen component gained 2.188% to around 14,141.15.

Hong Kong’s Hang Seng index advanced about 1%, as of its final hour of trading. China’s exports surged 11.4% in October as compared to a year earlier, according to official statistics released over the weekend.

Shares in Australia were also higher, with the S&P/ASX 200 gaining 1.75% to close at 6,298.80.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.17%.