DHAKA: Asian stocks have tumbled after the US presidential polls indicated a tight race between Hillary Clinton and Donald Trump.

While Japan and Australia had initially opened higher, all major markets in the region are now lower.

Currencies are equally volatile with the Mexican Peso lower and the Japanese yen on the rise.

As traders had expected a Hillary win, even a tight race is enough to spark extreme volatility.

Japan’s Nikkei 225 is down by 2.8% while the Hang Seng in Hong Kong is down 1.9% and the Shanghai Composite 0.7% lower.

Australia’s ASX 200 dropped by 1.8% while the Kospi in South Korea is 1.6% lower, reports the BBC.

Earlier, Wall Street and European markets closed higher, but the gains were small suggesting caution.

The Mexican peso has seen some of the most notable fluctuations, swinging wildly against the dollar, despite surging to a two-month high earlier.

The Mexican currency’s movements are seen by many in the market as a good indicator of the election’s likely outcome, with an upward movement suggesting Hillary Clinton is ahead.

Mexico is expected to suffer should Trump be elected because of his pledges to build a wall along the US border with the country and renegotiate their trade agreement.

BDST: 0911 HRS, NOV 09, 2016
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