Asian markets gain following Biden victory

Nikkei index surges 2% while Australia and South Korea also open higher

20201109 nikkei stock

Japan's Nikkei Stock Average at one point surged over 500 points on Nov. 9. (Photo by Kai Fujii) 

JADA NAGUMO and NARAYANAN SOMASUNDARAM, Nikkei staff writers

TOKYO/HONG KONG -- Asian stock markets got off to a strong start on Monday after Joe Biden was declared the winner of the U.S. presidential election against President Donald Trump, lifting uncertainty surrounding the nail-biting 2020 contest.

Japan's Nikkei Stock Average at one point surged over 600 points, or 2.6%, continuing to rise after reaching a 29-year high on Friday. The index closed up 514 points at 24,839, while the broader Topix index climbed 1.4%, with stocks rising across various sectors including information and technology, retail and electronics.

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