While the much anticipated “Blue Wave” had not happened, Joe Biden has widened his lead over incumbent Donald Trump, potentially inspiring Asian markets for a “solid open”.
Just hours ago, the two were almost neck-and-neck, and investors were warned to brace for prolonged uncertainty.
At 7.30am Singapore time, Fox has called 264 electoral college votes for Biden, six votes short of a win, versus Trump’s 214 votes. CNN, meanwhile, is calling 253 votes for Biden and 213 for Trump.
Biden, the challenger for the US presidency from the Democratic Party, was able to win back the states of Michigan and Wisconsin. Another key state, Pennsylvania, with 20 votes, has Trump leading slightly so far.
“It seems that Wall Street might get unofficial results fairly soon. The mood in the White House can’t be good,” says Edward Moya senior market analyst, at OANDA, in a commentary at 7am Singapore time.
However, he warns that the contest is not over, and President Trump will not go down without a fight. “But financial markets are confident to price in a Biden presidency along with a Republican-controlled Senate.”
“Asia is poised to a solid open as US election uncertainty could be wrapped before the end of the week,” he adds.
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