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[Tokio, 5 de Reuters]- The price of the shares is rising in the financial market that received the US presidential elections. Despite Trump’s rally, the share price trend has not changed, although the share price has risen due to Byden’s victory. It’s okay if there is a high possibility that the deal, which should have been a worst-case scenario, will be delayed. It is considered to be a peculiar convenient interpretation of the market price, but there are many cold opinions that it is just a short-term buy and sell that lacks a “big picture (big future forecast)”.
Short-term sources like hedge funds appear to be moving to buy stocks on both denominated terms with a view to “Trump trading.” Dow on the US Stock Market on 4.DJIIt was 1.34% higher, but Nasdaq.IXICIt more than doubled to 3.85% more, and the rise in high-tech stocks was notable.
So far, “Baiden Trade” based on Byden’s win scenario has been the driving force for stock prices, but in the market, “if Trump wins, the move to tighten regulations may back down. There is no need to worrying about falling high-tech IT stocks that have been the driving force behind US stock prices. ”(National values) is widely believed.
On October 6, the US House of Representatives Antitrust Subcommittee compiled a rigorous investigative report detailing the abuse of market power by four giant IT companies in the United States. This suggests that if Democratic candidate Byden wins the presidential election, new stricter rules and regulations await the four FANG companies.
In the foreign exchange market, the movement of the dollar / yen was limited, but the Mexican peso temporarily collapsed. The country’s currency, which has been severely attacked by Trump on the trade side, has been bought back on the view that Byden has the upper hand in the presidential election, but the position has been immediately reversed.
Currently, only high-stock materials stand out on the market, and there is no growing concern about materials being lost at “Baiden Trade”.
The setback in financial expansion expectations was not seen as bad news, and “even if Mr. Trump was re-elected, he changed his mind that a certain amount of financial spending could be expected as the new Crown is extended,” said a foreign financial institution. The US long-term interest rate, which has fallen due to the recession of concerns about financial expansion, is a source of high stock prices, but there are no concerns about a decrease in the effect of boosting the economy.
In addition, there are voices that “concern about tax increases for companies and wealthy people has receded” (national banks). In “Baiden Trade”, although it has not been considered as bad material, it has started to be seen as positive material when the inferiority of Mr. Byden and the Democratic Party is conveyed.
The hardening of high-tech IT companies is not something Candidate Byden or the Democratic Party started. The Trump administration has filed a lawsuit through the Justice Department against some large companies in line with antitrust law, but it is considered a high share price in today’s market.
“It is a convenient interpretation of the market price of money. With the global interest rate declining, there is only one market that can generate a sufficient return like stocks. There is a movement to forcibly seek materials with high stock prices. and take advantage of them. “It’s converted,” says Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
The US presidential election is near and there is a possibility that they will face a legal battle. The prolonged sell-off should have been the worst-case scenario for the market as it would create a “blank” policy, but the risk trend for high equity prices has not collapsed.
“There is no big picture in the market at the moment, because it is too opaque to read. If the price moves even a little, it is now mainstream trading and the market oscillation is increasing,” the alliance said.・ Discusses Mr. Masahiko Shun, Managing Director of the Bernstein Bond Management Research Department.
In the US city, which has made it to the presidential election, barricade boards stretch around the outer wall of the store, creating a gloomy atmosphere. An observer who has been looking at the United States for many years finds himself in an unusual situation and says, “This is the first time I have felt so upset” (Toru Moriya, chief market economist at Sumitomo Mitsui Banking Corporation).
“After the presidential election, the United States may be further divided rather than reconciled. The market has yet to take into account the deepening conflicts and increasing social unrest,” said Hiroaki Hayashi, managing director of Fukoku Life Investment Advisors. I’m worried.
According to a Reuters / Ipsos poll from October 13-20, more than 40% of those who support incumbent President Trump and former opposition / Democratic Party Vice President Byden are recommending candidates. He responds that they will not accept the election results if they are defeated.
