2016.11.1005:10:00UTC+00Asian Shares Rally as Markets Reassess Trump Victory

Asian stocks soared as it joined a global rebound on speculation that Republican Donald Trump will follow business-friendly policies. The MSCI Asia Pacific Index jumped 3.1 percent.

Japan's Nikkei 225 advanced 6.72 percent at 17,344.42 and the Topix rose 5.8 percent, as the yen weakened against the U.S. dollar, trading at 105.42. Financial shares recorded the largest increase on the Topix over speculation that businesses will grow under the Trump residency. Mitsubishi UFJ Financial Group Inc. surged 11 percent, Nomura Holdings Inc. advanced 11 percent and Sumitomo Mitsui Financial Group Inc. advanced 8.6 percent.

South Korea's Kospi index climbed 2.3 percent. Hong Kong's Hang Seng Index added two percent while Taiwan's Taiex index jumped 2.3 percent. New Zealand's S&P/NZX 50 Index gained one percent.

The Shanghai Composite Index was up 1.4 percent and the Shenzhen composite edged up 1.374 percent. China Communications Construction soared 6.86 percent, Sany Heavy climbed 3.11 percent and Zoomlion Heavy industries increased 4.62 percent. Australia's S&P/ASX 200 Index gained 3.3 percent. Its energy subindex added 3.29 percent, the materials subindex jumped 5.75 percent while the gold subindex fell 4.82 percent.