Joe Biden playbook grips markets: Green up, defence and prisons down

South Korea's OCI Co, a solar equipment maker, rose as much as 9 per cent on and Japan's West Holdings gained 4.5 per cent

Markets are loving Joe Biden’s turn as America’s president. Wall Street's main indexes opened near record highs on Thursday as investors counted on more pandemic relief and speedy vaccine roll-outs under the Biden administration to support the economy after data showed a weakening labour market recovery.
 
Biden’s formal transition into the White House has cemented investors’ faith in companies allied to his policies, while those that don’t meet his priorities are losing out. Stocks tied to clean energy rose, continuing gains they have made since Biden won the election. Defence equipment makers and prison operators — sectors that did