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Brokerages remain bullish on Asian equities despite US poll cliffhanger

From an Indian market perspective, the US election driven trends could imply that Indian IT stocks and Reliance Industries (RIL) could gain traction and cyclical stocks including banks might lag

The final result may remain unknown for a few weeks, which will likely cause disruptive headlines and some near-term volatility
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The final result may remain unknown for a few weeks, which will likely cause disruptive headlines and some near-term volatility

Puneet Wadhwa New Delhi
Most brokerages remain bullish on Asian equities from a medium-to-long term perspective despite the US poll cliffhanger that may see Joe Biden occupy the White House amid protest and court cases by the Republican Donald Trump.

As things stand, Joe Biden is projected to emerge on top with wins in key states of Michigan and Wisconsin. Meanwhile, US President Donald Trump has filed lawsuits in Pennsylvania, Michigan and Georgia with their campaign demanding access to the vote counting sites and reviewing each ballot. This in effect means the Republicans will still control the Senate.

Meanwhile, the Federal Open Market Committee