Global equities jumped to a record high amid optimism about the outlook for risk assets during a Joe Biden presidency.

The MSCI All-Country World Index rose as much as 0.5% to 595.98 on Monday, surpassing the intraday high of 595.24 set Sept. 3.

After surging nearly 8% last week in the biggest rally since April, global stocks on Monday extended their gains after Biden was declared the winner of the US election over the weekend. Biden in his victory speech promised swift action against the pandemic and an orderly transfer of power, though President Donald Trump is weighing legal challenges and has so far refused to concede.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook