Tokyo stocks are likely to see a sustained rise as Joe Biden's win in the U.S. presidential election has raised expectations he will implement a large fiscal stimulus package to boost the coronavirus-hit economy.
Following a post-election buying spree on the Tokyo market, many investors are expected to take a wait-and-see stance as they size up Biden's proposed economic policies such as tax hikes on the wealthy and financing investments ranging from infrastructure to clean energy and regulations on Facebook Inc. and other U.S. technology giants.
However, the degree of global economic recovery from the prolonged coronavirus pandemic continues to serve as a source of uncertainty for the market, according to analysts.