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Asian stocks decline in unpredictable trading as investors expect the results of the U.S. presidential election, with early outcomes exhibiting a tight race between Democrat Hillary Clinton and Republican Donald Trump.
In Tokyo at 11:25 A.M., MSCI Asia Pacific Index dropped to 136.29, which is a decline by 1.1 percent after its rise by 0.8 percent. The rate did not exceed this year’s highest record in September following the unsure result of U.S. election counted on equities worldwide.
From its September high, MSCI Asia Pacific Index fell by 3.1 percent through Tuesday as investors anticipate who will be the next president of the world’s largest economy.
According to Bloomberg’s data, the odds of Clinton winning the race have increased the speculations on Federal Reserve interest rate increase in December by 84 percent.
On Wednesday, unstable market is also what investors met with results coming from Florida and other crucial states for election.
Trump was ahead of Clinton with 49 percent and the latter with 47.9 percent. There were 91 percent votes in Florida deliberated for the outcome. CNN stated that though the Republican seems to be leading the race in the state, the southern areas are heavily Democratic, which include counties of Palm Beach and Miami-Dade. Trump’s victory includes its 29 electoral votes and Florida.
S&P 500 Index futures collapsed by 1.7 percent, which erased its 0.8 percent gains. On Tuesday, the fundamental equity value had increased by 0.4 percent that topped its 2-day increment since June.
Yen traded at 103.27 against the dollar following its decline for three days. Meanwhile, Japan’s Topix index dropped by 1.5 percent. South Korea’s Kospi index decreased by 0.8 percent, Australia’s S&P/ ASX 200 Index plunged by 0.5 percent, and New Zealand’s S&P/ NZX 50 Index slipped by 0.2 percent. Singapore’s Straits Times Index fell by 1.3 percent, whereas Taiwan’s Taiex dropped by 1.4 percent.
China’s Shanghai Composite Index left its 10-month high with a fall of 0.3 percent, and Hong Kong’s Hang Seng Index slipped by 1.7 percent.