It rose 2.6 per cent when the market opened at 9am on Monday (12am GMT) and later closed up 2.1 per cent at a level not seen since 1991.

Its gains were also down to its recent boom in car manufacturing from brands including Toyota.

Elsewhere in Asia, the markets also looked healthy after the result. Topix index in Japan jumped 1.7 per cent, China’s CSI 300 index jumped 2.1 per cent and Hong Kong’s Hang Seng rose 1.6 per cent.

The Sensex in India also jumped as much as 1.6 per cent to a record high and the Kospi in South Korea was 1.4 per cent.

Over in Europe, the UK’s FTSE 100 topped the 6,000 mark for the first time in a month when the markets opened at 8am on Monday, jumping as much as 1.7 per cent or more than 100 points in early trading.

Networks on Saturday announced Mr Biden and his running mate, Kamala Harris, as the winners of the election after the duo flipped former red state Pennsylvania to the Democrats, handing them 20 electoral votes.

Prior to the Pennsylvania win, eyes were on the state of Nevada, which saw Mr Biden speeding ahead over Donald Trump and would have handed him the six points he needed to scoop the presidency.

After winning the election with the landslide 20 points, Nevada was also named a Democractic win around 30 minutes later.

Chinese investors also see Mr Biden as a positive hope for the future as he could be more open to trading and the expansion of tech in the US.



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