Stocks in the Gulf and Asia regions, and the oil and mineral markets reacted positively, today, Monday, with Joe Biden's victory over President Donald Trump in the US presidential election.

However, in currency markets, a mixed performance was seen, as the dollar lost and the Turkish lira rebounded.

 Gulf markets

Shares in the Gulf markets posted gains in early trading, on Monday.

In Kuwait, the index rose 0.6%, and is on its way to extend its gains for a third consecutive session.

The main Saudi index advanced 0.9%, the main index in Dubai rose 0.1%, and the Abu Dhabi index strengthened 0.4%.

In Qatar, the index rose 0.5%, as the share of Qatar Petrochemical Industries rose 1.5%.

Record levels in Asian markets

Today, Monday, the Japanese Nikkei index reached its highest level in nearly 3 decades.

Investors, who were reluctant to buy last week due to political uncertainty in the United States, have rushed to buy as they focus on Biden's ability to expand fiscal stimulus and take measures to reduce the spread of COVID-19.

The Nikkei index rose 2.12% to 24,839.84 points, the highest closing level since November 1991, to gain 8.1% in the past five sessions.

The broader Topix index rose 1.41% to 1681.90 points, a level not recorded since late February.

The Taiwan Stock Exchange closed 1.19% higher, at 13,127.47 points.

The South Korean Kospi Stock Index rose 1.27% to close at 2,447.2 points.

The Shanghai Composite Index in China rose by 1.67%, and the Hang Seng Index in Hong Kong increased by 1.22%.

The Turkish lira rebounded strongly against the dollar today (Reuters)

 Currencies that win and others lose

The dollar reached its lowest level in 10 weeks, today, Monday, as investors were encouraged by the election of Joe Biden by buying currencies exposed to trade thanks to expectations that a quieter administration in the White House will boost global trade, and that monetary policy will remain easy.

The Chinese yuan settled at its peak of 28 months, and the New Zealand dollar rose 0.6%, reaching its highest level in 19 months.

The Australian dollar hit its highest level in 7 weeks, while the dollar index fell to its lowest level since early September.

The British pound reached its highest level in more than two months, while the euro rose 0.1%, continuing the gains of about 2% made last week, reaching its highest level in two months at $ 1.1895.

"From a market point of view, neither party is in control of Congress, so trade wars and tax increases are largely off the agenda," said Michael McCarthy, chief strategist at CMC Markets in Sydney.

The Japanese yen - which is considered a safe haven - fell slightly to reach 103.42 to the dollar at a level just below its 8-month high, which it reached on Friday, when low US Treasury yields caused a decline in flows from Japan.

The South Korean won reached its highest level in 21 months at 115.33 per dollar, and the Mexican peso rose 0.7% to reach 20.3980 per dollar, its highest level since last March.

 The lira is recovering

In emerging markets, the Turkish lira rebounded strongly, on Monday, after the statements of Central Bank President Naji Aghbal, to reach 8.1840 against the dollar.

The exchange rate of the dollar rose to 8.5832 pounds, Friday, and closed at 8.5253 pounds, to record the dollar a rise of 1.2% against the pound, compared to the previous closing price.

The head of the Turkish Central Bank, Naji Aghbal, said in a statement that the main objectives of the central bank are to ensure and maintain price stability, and in line with the main objective we will use all policy tools decisively.

He added that communication in monetary policy will be strengthened within the framework of principles of transparency, accountability and predictability.

 Oil earns

Oil prices gained more than 2% today, Monday, while Brent crude futures rose above $ 40 a barrel, in the wake of Joe Biden's victory, and increased risk appetite, offsetting concerns about the impact of the worsening coronavirus pandemic on demand.

And Brent crude futures for January delivery rose in trading today, 2.7%, to $ 40.51 a barrel by 04:53 GMT.

US West Texas Intermediate crude for December delivery reached $ 38.21 a barrel, up about 2.9%.

The weakness of the dollar strengthened the position of primary commodities denominated in the US currency, as they became less expensive for holders of other currencies.

Michael McCarthy said, "This morning's trading is flavored with risk appetite, indicating growing confidence that Joe Biden will occupy the White House, while the Republican Party will retain control of the Senate."

Oil prices gained more than 2% today, Monday (Getty Images)

 Fears

Key members of the Organization of the Petroleum Exporting Countries (OPEC) are concerned about Biden easing measures towards Iran or Venezuela in the coming years, which could mean an increase in production, which will make it more difficult to balance supply with demand.

Analysts at ING say the return of Iranian oil supplies is very likely at the end of 2021 or 2022.

Sources close to OPEC said that key members of the organization fear renewed tensions within the OPEC Plus alliance under Joe Biden's presidency of the United States, and that they will miss President Donald Trump, who switched from criticizing the organization to helping it implement an unprecedented huge cut in oil production.

Biden may make changes in diplomatic relations with 3 main members of OPEC: Saudi Arabia, the largest producer in the organization, Iran and Venezuela, which are subject to sanctions, as well as with Russia, the main non-OPEC producer, and the largest oil producer among the countries allied with the organization, in the context of what has become known as the OPEC group. Plus.

In the event that the natural production of Iran and Venezuela returns, the oil market will receive an average of 3 million barrels of oil per day, which will be added to the current supply glut.

Gold is rising

Gold prices rose, today, Monday, to their highest level in nearly two months, driven by the weakness of the dollar and hopes for more stimulus measures;

Because of the Corona virus in the shadow of President-elect Joe Biden.

And gold increased in spot transactions 0.5% to 1960.99 dollars an ounce by 05:18 GMT.

And earlier in the session, the yellow metal recorded $ 1,965.33, the highest level since September 16.

In US futures trading, gold gained 0.6% to $ 1963.20.

"Expectations of more stimulus keep gold supported and push the dollar down ... it could be the beginning of a long rally (for gold)," said Hui Li, economist at OCBC Bank.

The dollar index recorded its lowest level in 10 weeks, which increases the temptation for gold to holders of other currencies.

Unprecedented stimulus measures and low interest rates globally put gold on track to record its best year in a decade;

Given its attractiveness as a hedging tool in the face of inflation and currency devaluation.