Joe Biden's projected victory in the 3 November US presidential election has prompted increasing activity in global financial markets as stock indices across the world hit a record high.
The key MSCI (Morgan Stanley Capital International) world equity index of developed and emerging markets soared to its highest-ever level in early Monday trading, which was also the case with the FTSE (Financial Times Stock Exchange) 100 in Britain.
The FTSE 100 skyrocketed to a record 6,004 points in early trading, as the Europe-wide Stoxx 600 index as well as Germany's Dax and France's Cac indices also jumped to their highest levels over the past weeks.
Tokyo's Nikkei index increased to 24,839 points, a 29-year high, while China's Shanghai Composite and Sydney's ASX200 were up by 1.9% and 1.75%, respectively. Also hitting record peaks were the S&P 500, Nasdaq, and the Dow Jones.
The Guardian cited Connor Campbell, financial analyst on the trading platform Spreadex, as claiming that "the real test for the markets is going to be the coming days and weeks".
Campbell recalled that President Donald Trump shows no signs of conceding, adding that "enough of the Republican Party is willing to back up" his claims pertaining to voter fraud during the elections, something the analyst noted "could come to undermine the market's recent gains".
With Biden already proclaiming himself president-elect and vowing to unify the US in his recent address to the nation, Trump remains defiant, launching a legal battle against what POTUS earlier denounced as "fraudulent votes".