HongKong: Equities rose on Thursday, the U.S. dollar held firm, and Bitcoin reached a record high of over $76,475, as markets reacted to Donald Trump's election victory and his promises of tax cuts and trade tariffs.

The "Trump Trade" momentum accelerated following his decisive win over Democrat Kamala Harris. Analysts expect a wave of business-friendly policies, including deregulation and tax relief, but warn of inflationary risks from his proposed tariffs on imports, particularly targeting China.

Global Stock Rally
Asian markets posted broad gains, bolstered by stronger-than-expected Chinese export data and hopes for fresh economic stimulus.

-Shanghai Composite rose 2.6%, closing at 3,470.66.
-Hong Kong's Hang Seng Index surged 2% to 20,953.34.
-London's FTSE 100 and other European markets opened higher, continuing the global rally.
-In the U.S., Wall Street’s major indexes closed at record highs, with the Dow soaring 3.6% to 43,729.93.

Dollar Steady Amid Rate Speculation
The dollar maintained its gains, reflecting reduced bets on Federal Reserve interest rate cuts as Trump's policies are expected to stoke inflation. Treasury yields also climbed.

Bitcoin Soars
Bitcoin jumped to a new high above $76,475, driven by optimism after Trump declared plans to make the U.S. a hub for cryptocurrencies.

Trump’s Economic Policies in Focus
Trump’s tariff proposals are expected to spark tensions with China, reviving memories of the trade wars during his first term. Chinese President Xi Jinping emphasized the need for U.S.-China cooperation, while Beijing signaled plans for significant stimulus measures, expected to be unveiled by Friday.

Despite concerns about inflation, Citi economists anticipate further Federal Reserve rate cuts in December, depending on labor market trends.

Market Snapshot as of 0810 GMT
Tokyo Nikkei 225: -0.3% at 39,381.41
Hong Kong Hang Seng: +2% at 20,953.34
Shanghai Composite: +2.6% at 3,470.66
London FTSE 100: +0.3% at 8,193.67
Dollar/Yen: 153.91 (down from 154.62)
Euro/Dollar: $1.0754 (up from $1.0732)
Bitcoin: $76,475 (record high)
While global markets celebrate short-term optimism, the long-term impact of Trump's economic agenda on inflation, trade, and growth remains uncertain.