asia-positive-on-obamas-election

Asia positive on ObamaÆs election

The election of Barack Obama as the next president of the United States sent Asian markets higher Wednesday despite a still gloomy economic outlook.

Edward Russell

November 06, 2008

To cheers of ôYes you canö, Barack Hussein Obama stepped on stage on Tuesday night US time as the 44th president-elect of the United States. Ahead of him is the daunting task of managing two wars, fixing a shattered US economy and repairing AmericaÆs image in the world.

In Asia, reactions were positive. Analysts expressed bullish outlooks about the impact of an Obama presidency on markets and the global credit crisis. Asian stock markets closed largely higher Wednesday with JapanÆs Nikkei 225 leading the pack with a 4.46% gain to 9,521.24 points. Hong KongÆs Hang Seng Index rose 3.17% to 14,840.16 points and SingaporeÆs Strait Times index was up 2.14% at 1,868.82. Only India, where...

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