{"id":14384,"date":"2012-11-07T04:11:41","date_gmt":"2012-11-07T04:11:41","guid":{"rendered":""},"modified":"2012-11-07T04:11:41","modified_gmt":"2012-11-07T04:11:41","slug":"Asian-stocks-rise-after-Obama-declared-winner","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=14384","title":{"rendered":"Asian stocks rise after Obama declared winner"},"content":{"rendered":"<p><strong>Asian stock markets reversed early losses to move higher today after President Barack Obama won a fiercely contested race for re-election.<\/strong><\/p>\n<p><strong>Stock markets had been in a state of suspended animation throughout the week as investors waited for the cliffhanger election to end.<\/strong> Now, with the Republican challenger Mitt Romney defeated, politicians in the world&#8217;s biggest economy can refocus on issues other than the campaign.<\/p>\n<p>One of the most pressing issues facing the U.S. is the looming &#8220;fiscal cliff,&#8221; a combination of higher taxes and government spending cuts that automatically takes effect unless Congress acts by Jan. 1.<\/p>\n<p>Economists have warned that if this so-called fiscal cliff is not avoided, the adverse effects could push the U.S. economy back into recession. Deciding the election is the first step toward a resolution.<\/p>\n<p>Japan&#8217;s Nikkei 225 index, bobbling between gains and losses, rose less than 0.1 percent to 8,976.40. Hong Kong&#8217;s Hang Seng added 0.3 percent to 22,010.27. South Korea&#8217;s Kospi gained 0.2 percent to 1,933.52. Australia&#8217;s S&#038;P\/ASX 200 rose 0.7 percent to 4,516.50. Benchmarks in New Zealand, Indonesia, Singapore, mainland China and Taiwan also rose. Stocks in the Philippines fell.<\/p>\n<p><strong>The race&#8217;s results assured not only Obama of a job for the next four years.<\/strong> Federal Reserve chairman Ben Bernanke appears set to hold onto his job for another term. Romney, who disapproved of Bernanke&#8217;s bond-buying programs to stimulate the U.S. economy, had said he would not reappoint him to another term to lead the Fed.<\/p>\n<p><strong>Congratulations to President Obama!<\/strong><\/p>\n<p><em>Source AP<\/em><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asian stock markets reversed early losses to move higher today after President Barack Obama won a fiercely contested race for<\/p>\n","protected":false},"author":1,"featured_media":70655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[1],"tags":[],"class_list":["post-14384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"magazineBlocksPostFeaturedMedia":{"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"colormag-highlighted-post":false,"colormag-featured-post-medium":false,"colormag-featured-post-small":false,"colormag-featured-image":false,"colormag-default-news":false,"colormag-featured-image-large":false,"colormag-elementor-block-extra-large-thumbnail":false,"colormag-elementor-grid-large-thumbnail":false,"colormag-elementor-grid-small-thumbnail":false,"colormag-elementor-grid-medium-large-thumbnail":false},"magazineBlocksPostAuthor":{"name":"Admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Asian stock markets reversed early losses to move higher today after President Barack Obama won a fiercely contested race for","magazineBlocksPostCategories":["News"],"magazineBlocksPostViewCount":128,"magazineBlocksPostReadTime":2,"magazine_blocks_featured_image_url":{"full":false,"medium":false,"thumbnail":false},"magazine_blocks_author":{"display_name":"Admin","author_link":"https:\/\/asiancemagazine.com\/?author=1"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g","magazine_blocks_category":"<a href=\"#\" class=\"category-link category-link-1\">News<\/a>","_links":{"self":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/14384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14384"}],"version-history":[{"count":0,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/14384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/media\/70655"}],"wp:attachment":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}