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Asian Markets Trading Higher Thursday

A pedestrian looks at an electronic quotation board displaying companies' stock prices on the Tokyo Stock Exchange in Tokyo on Jan. 7, 2021.

Asian markets rose Thursday as investors appear to shrug off the ongoing political crisis in the United States.

Tokyo’s Nikkei index finished 1.6% higher. Sydney’s S&P/ASX index gained 1.5%. The Composite index in Shanghai was up 0.7%. Seoul’s KOSPI index soared 2.1%, and the TSEC index in Taipei finished 1.5% higher.

Hong Kong’s Hang Seng index is down 0.3% in late afternoon trading, and Mumbai’s Sensex is up 0.1%.

The elections of Raphael Warnock and Jon Ossoff in Tuesday’s U.S. Senate runoff elections in the Southern U.S. state of Georgia, giving Democrats control of both houses of Congress, has raised expectations that lawmakers will approve increased domestic spending under the incoming administration of President-elect Joe Biden.

In commodities trading, gold is selling at $1,918.70 per ounce, up 0.5%. U.S. crude oil is selling at $50.87 per barrel, up 0.4%, and Brent crude oil is selling at $54.45 per barrel, up 0.2%.

All three major U.S. indices are trending higher in futures trading.