After the U.S. media announced that Biden was elected the next U.S. president, the entire world was relieved, and global stock markets were rising.
The market aroused long sentiment, and foreign leaders congratulated Biden one after another. Diplomats and commentators expressed gratitude, satisfaction, and even rejoicing for the much-needed restoration of normalcy that Biden will bring, which disappeared worryingly on the day Trump took office.
Global stock markets welcome “Biden’s victory”
On the 9th, the A-share market closed, and the stock indexes of the two cities opened higher and moved higher during the session, and maintained a unilateral upward trend. The Shanghai stock index rose by more than 1% during intraday trading, and the Shenzhen Component Index rose by more than 2.5%, setting a new high since July 2015; the GEM index rose by more than 3%. Near the end of the trading session, the gains of the three major stock indexes fell slightly. The overall performance of the two cities was relatively active. The technology stocks led by semiconductors rose collectively, and the market rebounded. The turnover of the two cities broke the trillion yuan mark again after two months, and the net inflow of northbound funds was nearly 20 billion yuan.
One of the most striking is the surge in technology stocks such as chips and semiconductors. Previously, Huawei’s industrial chain was affected in terms of chip supply. If trade frictions ease, and if chip supply resumes, then Huawei’s industrial chain may usher in opportunities again. Previously, the favored chip sector may be undergoing adjustments in the short term.
The market expects that after Biden takes office, China’s chip industry will relieve the pressing external environment and usher in a more relaxed atmosphere. Therefore, the stock prices of technology stocks represented by chip stocks have performed particularly prominently today.
In addition, analysts predict that with Biden’s successful entry into the White House, the RMB exchange rate may rise further in the future. China’s rapid recovery is also a factor supporting the strengthening of the renminbi.
On November 9, the central parity of the RMB against the US dollar reported 6.6123 yuan, an increase of 167 points, a record high since the end of June 2018.
The onshore RMB exchange rate against the US dollar jumped 300 points at the opening, breaking the 6.60 mark. At the same time, the offshore people hit 6.5433 at the highest.
The Hang Seng Index closed up 1.18% above the 26,000 point mark, the first time since early July. The Hang Seng Technology Index surged 2.96%. Semiconductor, Chinese brokerage, port transportation and resource stocks were among the top gainers, and Tencent, Meituan, and JD.com reached new highs in the intraday trading.
At 4 pm on the 9th, European stock markets opened. The German DAX index rose 1.7%, the UK FTSE 100 index rose 1.2%, and the European Stoxx 50 index rose 1.4%.
Today, the Japanese stock market also opened higher, and the increase expanded to more than 2%. In intraday, the Nikkei 225 index broke through the previous high and reached the highest level since November 1991.
The three major US stock index futures also continued to rise before the market. The Dow rose nearly 400 points and the Nasdaq rose 2%.
U.S. media announces “Biden’s victory”, Chinese Ministry of Foreign Affairs responded
As of November 9th, there are still several states that have not finished counting the votes in the 2020 election in the United States, which has lasted for nearly a week, but many mainstream American media have announced that the Democratic presidential candidate Biden was “elected.” Biden local time on the evening of the 7th He delivered a “Victorious Speech” to the United States, and leaders of many countries also congratulated him.
At the regular press conference of the Ministry of Foreign Affairs of China on November 9, spokesman Wang Wenbin said in response to foreign media reporters’ questions about the U.S. election, that we have noticed that Mr. Biden has announced his successful election, and we understand that the results of the election will follow U.S. standards. Laws and procedures are determined.
Regarding the issue of China’s statement, Wang Wenbin said that we will handle it in accordance with international practices. As for the views on Sino-US relations, Wang Wenbin emphasized that we have always maintained that China and the United States should strengthen communication and dialogue, manage differences on the basis of mutual respect, expand cooperation on the basis of mutual benefit, and promote the healthy and stable development of Sino-US relations.
Trump’s lawyer said today that a lawsuit will be initiated in Pennsylvania
On the 8th local time, Trump’s lawyer Giuliani posted on social media that he was investigating in Pennsylvania.
Giuliani said, “Trump had a 800,000 vote lead in Pennsylvania, but this advantage was wiped out by a large number of mailed votes, and these mailed votes were counted without the presence of Republican observers.” Giuliani told “Fox News” that he would initiate a lawsuit in Pennsylvania on the 9th local time, accusing it of “large-scale fraud” in the election.
Sidney Powell, another lawyer of the Trump team, also told Fox News on the 8th local time that she believes that there are problems with the vote counting system used in 28 states, including several key states. Artificial “computer failure” changed the vote originally voted for Trump to Biden. However, she has not produced any tangible evidence.
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