Tokyo, Nov. 9 (BNA): Markets in the Asia Pacific region on Monday welcomed Joe Biden’s victory over President Donald Trump in the US election, with Japan’s benchmark Nikkei 225 Stock Average surging nearly 2 percent in morning trading.

The Nikkei gained 1.95 percent to stand at 24,799.22 at 11:30 am (0230 GMT) at the end of the morning session, while the broader Topix index rose 1.22 percent to 1,678.68, according to Deutsche press agency (dpa). 

South Korea's benchmark Kospi Index added 1.16 percent to 2,444.61.

Australia's benchmark S&P/ASX200 index climbed 1.67 percent to 6,293.8 and the broader All Ordinaries index jumped 1.79 percent to 6,509.2.

China's Shanghai Composite Index was up 1.16 per cent and Hong Kong's Hang Seng Index advanced 1.29 percent.

Biden was declared the winner on Saturday after it was clear he had won Pennsylvania and Nevada, pushing him well past the 270 electoral votes needed to seize the White House.

Trump has refused to concede the election.

M.I./F.K.N.