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US ELECTION: Investors exuberant as Trump signals shift from austerity

The Dow surged 218 points and blasted to a new closing high, marking Day 2 of the "Trump Bounce" as Wall Street fears related to Donald Trump's election win gave way to hopes that the president-elect's policies could boost the economy. The euro rose to $1.1115 from $1.1020. Trump has said he would build a wall along Mexico's northern border and break trade deals with the country.

Well, certain sectors are rising sharply on the premise of a Trump presidency.

America's Dow Jones Industrial Average closed 1.4 per cent higher after a cautious start to trading, with Asian markets following suit as the Nikkei 225 recovered losses seen on Wednesday to rocket almost 7 per cent higher, and Hong Kong's Hang Seng rose 1.9 per cent.

The U.S. dollar, Mexican peso and world stocks fell, as Europe followed suite, tipping two percent lower in Frankfurt, London and Paris, but the British market rebounded briefly into slight gains after Trump's conciliatory acceptance speech.

Japan's yen, viewed as a safe haven currency in situations of worldwide volatility, strengthened by 2% against the dollar.

Trump's pledge to unify a deeply divided nation in his victory speech early Wednesday helped calm jitters in global financial markets.

Kathleen Brooks, research director at City Index, said: "Considering the win for Trump hasn't been America's Brexit, the Fed does not need to refrain from hiking interest rates to supress market volatility and protect from stock market declines".

Giant snowballs mysteriously appear on Russian beach
Eleven miles of Siberian coastline were covered in giant, smooth boulders of ice late last week, and they weren't made by humans. The ones in Siberia vary in size, ranging from as small as tennis balls to almost one meter across.

But the US dollar remained under pressure, weakening on fears that Trump's victory could delay the US Federal Reserve from hiking interest rates. South Korea's Kospi shed 2.7 percent to 1,949.07, the Shanghai Composite index fell 1.3 percent to 3,106.23 and Australia's S&P ASX/200 in sank 1.7 percent to 5,167.00. "I think our trading partners are understandably perplexed and a little bit skiddish because they're concerned that Trump is going to be a little bit more isolationist in terms of trade".

France's Cac index and Germany's Dax are each down about 1.5% after heavier falls at the start of trading.

USA crude oil prices closed higher after being down earlier in the day.

Benchmark U.S. crude rose 29 cents to close at $45.27 a barrel in NY.

The Mexican peso tumbled as much as 12 percent, breaching 20 per dollar for the first time, while the Japanese yen climbed versus all major currencies. But the loonie was later trading at about 74.5 cents USA - down two-thirds of a U.S. cent from Tuesday's close but in line with recent values - in the hours before North American financial markets open at 9:30 a.m ET.

Trump doesn't formally take the reins of power until January but he will begin the transition to his presidency nearly immediately. Brent crude, used to price worldwide oils, gained 38 cents to $46.74 a barrel in London. In the coming weeks, investors will be looking to see if he further tempers some of the rhetoric that polarized American opinion and often spooked investors in financial markets.

Among Trump's campaign statements that have sparked concerns are his threat to restrict immigration to the USA, renegotiate the North American Free Trade Agreement that takes in Canada and Mexico and scuttle the Pacific Rim trade initiative known as TPP.

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