Wed, Nov 6, 2024 5:54 PM
How China reacted to Trump’s win: A mix of caution and curiosity
A Flip by Shubhangi Gupta
On Wednesday, shares of Salasar Techno Engineering Limited (STEL) rocketed 14.3 per cent to an intraday high of Rs 20.15 per share from its previous closing of Rs 17.63 per share. At the closing bell, the company's shares were trading at Rs 19.10 per share, up 8.34 per cent and saw a spurt in volume by more than 5 times on BSE. The company has not made any significant announcements of late.
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Hedge funds BlueBay and Phoenix were turning their attentions to crude oil, U.S. Treasuries and U.S. banks on Wednesday, after Donald Trump was elected president. Trump's victory gives him a clear mandate to implement his policy agenda, which includes plans to cut U.S. corporate taxes, said Russel Matthews, lead portfolio manager of BlueBay's macro hedge funds.
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While the last of the votes in battleground states like Michigan and Arizona are still being counted, Donald Trump has earned the 270 electoral votes it takes to defeat Democratic candidate Kamala Harris in the race for the Presidency, projecting him to recapture the office he lost in 2020. With President Trump's re-election fueling discussion on how a second Trump term will affect everything.
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