Tokyo's Nikkei ends up 1.72% as US counts votes

Shanghai markets
Shanghai markets
owngarden/getty

Tokyo's key Nikkei 225 index rallied on Wednesday, as observers watched for clues about the outcome of the US presidential election, with no clear winner in sight.

The benchmark Nikkei 225 index was up 1.72%, or 399.75 points, at 23 695.23, while the broader Topix index gained 1.20% to 1 627.25.

The closing figures were little unchanged from the start of the session, with the opening bell coming just as the first major US states closed their polls.

By the end of the trading day, there was little clarity on the winner of the vote, though the race was much closer than had been suggested by polls that gave challenger and former vice president Joe Biden a strong lead over Donald Trump.

US shares surged and analysts said Tokyo bourses were expected to follow suit, with the prospect of fresh stimulus after the election bolstering sentiment.

The Dow ended 2.1% higher, the Nasdaq added 1.9% and the S&P was up 1.8% on Tuesday.

Tokyo Stock Exchange operates while US and European markets are closed and is the first major market to open after New York finishes.

As a result, it often serves as a bellwether of sorts for global markets following major events.

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