- Title: Asia stocks tumble on Trump win
- Date: 9th November 2016
- Summary: SEOUL, SOUTH KOREA (NOVEMBER 9, 2016) (REUTERS) EXTERIOR OF KOREA EXCHANGE (KRX) LETTER READING (English): "KRX" INTERIOR OF DEALING ROOM / COMPUTER SCREEN SHOWING STOCK PRICE ELECTRONIC BOARD SHOWING KOREA COMPOSITE STOCK PRICE INDEX (KOSPI) VARIOUS OF ELECTRONIC BOARD SHOWING STOCK PRICES COMPUTER SCREEN SHOWING KOREA COMPOSITE STOCK PRICE INDEX (KOSPI) COMPUTER SCREEN SHOWING KOREA COMPOSITE STOCK PRICE INDEX (KOSPI) AND ELECTRONIC BOARD SHOWING STOCK PRICES HONG KONG, CHINA (NOVEMBER 9, 2016) (REUTERS) VARIOUS OF MANULIFE ASSET MANAGEMENT SENIOR ASIA STRATEGIST, GEOFFREY LEWIS WORKING AT DESK (SOUNDBITE) (English) SENIOR ASIA STRATEGIST AT MANULIFE ASSET MANAGEMENT, GEOFFREY LEWIS, SAYING: "There'll be some capital outflows from higher-beta markets like the emerging equity markets, the Asian markets, Asian fixed-income and probably some volatility ahead until we have a better idea of what kind of policies a Trump presidency is going to entail." HANDS OF LEWIS USING MOUSE AND TYPING ON COMPUTER KEYBOARD LEWIS WORKING AT DESK (SOUNDBITE) (English) SENIOR ASIA STRATEGIST AT MANULIFE ASSET MANAGEMENT, GEOFFREY LEWIS, SAYING: "There'll be a continuation of competition between the U.S. and China on a strategic and economic basis and relations will probably be going to be more fraught and difficult than they otherwise would have been." LEWIS WORKING AT DESK FOUNTAIN/FLAGS IN FRONT OF EXCHANGE SQUARE CHINESE AND HONG KONG FLAGS EXTERIOR OF HONG KONG STOCK EXCHANGE HONG KONG STOCK EXCHANGE LOGO SCREEN SHOWING HAN SENG INDEX CLOSING DOWN AT -1.95% AND 22462.8 TRADER PRINTING OUT DATA SCROLLING SCREEN SHOWING STOCK DATA VARIOUS OF TRADERS LEAVING MUMBAI, MAHARASHTRA, INDIA (NOVEMBER 9, 2016) (REUTERS) EXTERIOR OF BOMBAY STOCK EXCHANGE BUILDING TICKER SHOWING STOCK PRICES PEOPLE WATCHING THE TICKER TICKER SHOWING PRICES OF VARIOUS COMPANIES IN RED VARIOUS OF PEOPLE WORKING ON COMPUTER
- Embargoed: 24th November 2016 08:43
- Keywords: South Korea Hong Kong Mumbai India Asia markets Donald Trump win president US
- Location: SEOUL, SOUTH KOREA/ HONG KONG, CHINA/ MUMBAI, MAHARASHTRA, INDIA
- City: SEOUL, SOUTH KOREA/ HONG KONG, CHINA/ MUMBAI, MAHARASHTRA, INDIA
- Country: South Korea
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA00157Q2AMD
- Aspect Ratio: 16:9
- Story Text: Asia stock markets plunged on Wednesday (November 9) as Republican Donald Trump closed in on a shock victory in the U.S. presidential election.
Worried a Trump victory could cause economic and global uncertainty, investors were in full flight from risky assets such as stocks, and the U.S. dollar sank.
In overnight trading, S&P 500 index futures fell 5 percent to hit their so-called limit down levels, indicating they would not be permitted to trade any lower until regular U.S. stock market hours on Wednesday.
In South Korea, the Korea Composite Stock Price Index (KOSPI) closed down 2.3 percent at 1,958.36 points, its lowest level since July 8 of this year.
Hong Kong stocks touched a 3-month low losing early gains to tumble over 2 percent as investors fled risky assets. The Hang Seng index fell 2.2 percent, to 22,415.19, while the Hong Kong China Enterprises Index lost 2.9 percent, to 9,378.66 points.
Reflecting rising investor anxiety, the HSI Volatility Index, a measure of market stress, shot to a fresh high of nearly 26 at one point, the highest level since the Brexit vote in June.
"There'll be a continuation of competition between the U.S. and China on a strategic and economic basis and relations will probably be going to be more fraught and difficult than they otherwise would have been," said markets watcher Geoggrey Lewis from Manulife Asset Management.
His win raises a host of questions for the United States at home and abroad. He campaigned on a pledge to take the country on a more isolationist, protectionist "America First" path. He has vowed to impose a 35 percent tariff on goods exported to the United States by U.S. companies that went abroad. - Copyright Holder: REUTERS
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