Asian Stocks Gain as Obama Wins Presidency; Treasuries Drop

[thundley4]

Nov. 5 (Bloomberg) -- Asian stocks gained as Barack Obama's presidential victory sparked optimism his spending plans will help the economy recover from the credit crisis. The dollar rose and treasuries declined.

Toyota Motor Corp., which gets the biggest portion of its sales from North America, added 10 percent. Obama has urged Congress to pass a $175 billion economic stimulus bill immediately after the election. BHP Billiton Ltd. led commodity shares higher after oil soared 10 percent yesterday. Mizuho Financial Group Inc. surged 16 percent as money market rates fell, indicating credit markets are thawing out.

Obama ``will attempt to change the way the U.S. does business and how it conducts itself with the rest of the world,'' said Raymond Tang, who oversees $5.8 billion as chief investment officer at CIMB-Principal Asset Management Bhd., a unit Malaysia's second-biggest bank. ``It's a whole new world and a new fantastic point of view.'' He's buying some ``blue chips,'' he said, declining to be more specific.

Bloomberg

Will the US markets go up, as they somewhat follow the world markets?

[franksolich]

I suspect over time--a week, a month, January 20, 2009, Wall Street will seriously decline, after which the world markets will follow.

[bijou]

Markets like certainty, I expect they will soon find their level on the basis of what policies are likely to be come January. Of course Obama is light on actual policy but there are enough pointers.