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South Africa’s stocks have climbed further on Monday, as investors cheered the optimism about the outlook under a Joe Biden US presidency.

The FTSE/JSE Africa All Shares Index rose as much as 1.4% to the highest intraday level since 27 August, and was up more than a 1% in mid-morning trade, as risk-on sentiment helped boost 101 of the 141 listed companies, Bloomberg reported

Democratic candidate, Biden, was elected the 46th president of the United States of America over the weekend, beating the incumbent Republican, Donald Trump in the Presidential elections. Biden secured 50.6% of the votes, with Trump getting 47.7%.

The rand has also hit an eight-month high against the dollar today and is currently trading at 15.54/$

Why a Biden win is good for South Africa right now

South Africa’s stocks climbed further on Monday, as investors cheered the optimism about the outlook under a Joe Biden US presidency.
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