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Tuesday, September 22nd, 2020

Global markets rebound after historic Donald Trump election victory

by November 10, 2016 General

HONG KONG – World stock markets extended their swift and surprising global rebound Thursday after being hammered by Donald Trump‘s unexpected U.S. election victory.Story continues belowGlobal NewsAfter getting over their initial shock, investors were betting that a Trump presidency would not be as bad as they had first feared. Investors chose to focus on his campaign promises aimed at boosting U.S. economic growth through higher infrastructure spending and cutting red tape, rather than uncertainties such as what he might do with trade agreements.European shares opened strongly, with France’s CAC 40 jumping 1.2 per cent to 4,596.34 and Germany’s DAX leaping 1.2 per cent to 10,776.93. Britain’s FTSE 100 climbed 1.2 per cent to 6,995.72.READ MORE: U.S. election uncertainty taking a ‘toll’ on global marketsU.S. shares were poised to open higher. Dow futures added 0.9 per cent to 18,699.00 and broader S&P 500 futures advanced 0.8 per cent to 2,178.50.Japan’s benchmark Nikkei 225 index rocketed 6.7 per cent to close at 17,344.42 after sliding more than 5 per cent the day before.The dollar also recovered in currency trading. It was at 105.74 yen after dropping to near 101 yen the day before.VIDEO: Market analyst: Global markets more stable post-Trump then post-Brexit