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Asian markets gain following Biden victory

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

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

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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