In one word, down, best describes Asian markets overnight.
Asia markets fell in Wednesday's choppy session, as polling closed in some U.S. states in the world's most closely watched election of recent times.
Japan's Nikkei 225 shed 4.12 percent, after rising more than 1 percent, as the yen, regarded as a safe haven currency, climbed amid nervousness over the vote. Dollar/yen was trading at 101.56 as of 11:32 am HK/SIN, after climbing up to 105.46 earlier.
Australia's ASX 200 was down 3.46 percent, slipping from gains of 0.8 percent at the open. The benchmark index's saw broad losses across all sub-indexes, except for gold which was up 10.4 percent. The Mexican peso dropped 10% when Trump carried Ohio.
According to NBC News, Donald Trump was the projected winner in several states: Alabama, Arkansas, Mississippi, Oklahoma, Tennessee, Indiana, West Virginia, South Carolina, Kansas, Missouri, Montana, Nebraska, North Dakota, South Dakota, Texas, Wyoming, Louisiana and Kentucky.
The yen rallied as the did gold and other safe haven investments.
The yen rallied as the did gold and other safe haven investments.
This from Reuters. Risk is back on. Dow futures are down 600 points. Gold and the yen are up. Gold is up $40 an ounce at $1322.20 or 3%. Dow Futures are down 625 points. At one point the Dow futures were down 750 points. U.S. Treasuries, yen, gold jump by most since Brexit and the Mexican peso plunges most since 1994, per Bloomberg.
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