Asian markets tank on Trump’s US election victory

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trump-presidentAsia-Pacific stock markets took a dive during November 9 trading sessions as Donald Trump secured a clear US election victory.

Japan’s Nikkei 225 closed down by 5.36 per cent, while the Hang Seng in Hong Kong was trading around two per cent lower and the Shanghai Composite lost 0.3 per cent. Australia’s ASX 200 finished down 1.9 per cent while the Kospi in South Korea ended 2.7 per cent lower.

Singapore’s STI was down 1.45 per cent in afternoon trading, while Malaysia’s KLCI tanked 1.33 per cent. In Thailand, the SET was down 1.32 per cent when the result became clear, and in the Philippines, the PSEi tanked 2.58 per cent in the afternoon hours.

Globally, the US dollar took a hit against all other major currencies. The greenback plunged 2.6 per cent to the yen and 1.6 per cent against the Swiss franc. The euro rallied to its highest level in two-months, climbing 1.8 per cent to $1.1225 after the results came out, but easing the gains later on as it became clear that Trump’s win reduces the likelihood of an interest hike by the US Fed originally expected for November.

The US dollar also dropped more than one per cent against the Malaysian ringgit, as well as to a lesser extent against the Philippine peso and the Singapore dollar. Interestingly, the greenback rose against the Thai baht.

The biggest collateral damage on the FX market was the Mexican peso, which crashed close to 13 per cent after Trump was declared winner of the US election.

Oil prices tumbled, while gold surged in the aftermath of the vote.

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Reading Time: 1 minute

Asia-Pacific stock markets took a dive during November 9 trading sessions as Donald Trump secured a clear US election victory.

Reading Time: 1 minute

trump-presidentAsia-Pacific stock markets took a dive during November 9 trading sessions as Donald Trump secured a clear US election victory.

Japan’s Nikkei 225 closed down by 5.36 per cent, while the Hang Seng in Hong Kong was trading around two per cent lower and the Shanghai Composite lost 0.3 per cent. Australia’s ASX 200 finished down 1.9 per cent while the Kospi in South Korea ended 2.7 per cent lower.

Singapore’s STI was down 1.45 per cent in afternoon trading, while Malaysia’s KLCI tanked 1.33 per cent. In Thailand, the SET was down 1.32 per cent when the result became clear, and in the Philippines, the PSEi tanked 2.58 per cent in the afternoon hours.

Globally, the US dollar took a hit against all other major currencies. The greenback plunged 2.6 per cent to the yen and 1.6 per cent against the Swiss franc. The euro rallied to its highest level in two-months, climbing 1.8 per cent to $1.1225 after the results came out, but easing the gains later on as it became clear that Trump’s win reduces the likelihood of an interest hike by the US Fed originally expected for November.

The US dollar also dropped more than one per cent against the Malaysian ringgit, as well as to a lesser extent against the Philippine peso and the Singapore dollar. Interestingly, the greenback rose against the Thai baht.

The biggest collateral damage on the FX market was the Mexican peso, which crashed close to 13 per cent after Trump was declared winner of the US election.

Oil prices tumbled, while gold surged in the aftermath of the vote.

Do you like this post?
  • Fascinated
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  • Bored
  • Afraid