Dollar spooked in Asia as U.S. polls too close to call

Dollar spooked in Asia as U.S. polls too close to call.

TOKYO, JAPAN (NOVEMBER 9, 2016) (REUTERS) – Asian markets were on tenderhooks on Wednesday (November 8) as early state exit polls in the U.S. presidential election showed wins for both candidates and no clear trend as yet.

In Tokyo, Japan’s benchmark Nikkei stock average opened at 17281.95 up 117.24 points on a possible Hillary Clinton win but later shed some points after Donald Trump was seen winning a few states in early exit polls.

South Korean shares opened higher with the Korea Composite Stock Price Index (KOSPI) up 0.40 percent at 2,011.48 points as of 0031GMT.

Asian stocks and U.S. stock futures edged 0.5 percent higher in volatile trade, while the dollar slipped on the yen and euro as investors hedged against the risk of a shock win by Republican Donald Trump.

Both Trump and Democrat Hillary Clinton scored early victories in their bitter race, with Trump winning as expected in conservative Indiana, Kentucky and West Virginia and Clinton capturing liberal Vermont.

The victories in the four states were long predicted and not especially significant in a national race where opinion polls show Clinton has an edge.

Markets have tended to favour Clinton as a status quo candidate who would be considered a safe pair of hands at home on the world stage.