BEIJING – Asian stock markets followed Wall Street higher on Tuesday as investors watched for U.S. election results, hoping a win by challenger Joe Biden in the presidential race might lead to more economic stimulus.Benchmarks in Shanghai, Hong Kong, Seoul and Sydney advanced.
Japanese markets were closed for a holiday.Traders are betting that Biden might push for a bigger U.S. stimulus if he unseats President Donald Trump.
That would require support in the Senate, which is controlled by Trump's Republicans. Some incumbents, also up for re-election this week, face challengers from Biden's Democratic Party.On Monday, Wall Street closed higher amid indications Biden might be leading.Many investors expect a “Democratic sweep, which is the key.