Asian markets, pound hit by Brexit referendum results

Asian financial markets and Britain's pound fell sharply Friday after initial results suggested Britain had voted to leave the European Union.

The pound stood below the 1.35-dollar level for the first time since 1985 early Friday.

In Japan, the benchmark Nikkei 225 was down nearly 7 per cent at around 0400 GMT.

Hong Kong's Hang Seng Index was down more than 4.5 per cent.

China’s benchmark Shanghai Composite Index was trading down 1.19 per cent.

Australia’s benchmark S&P/ASX200 was down 3.8 per cent.

The Bombay Stock Exchange's 30-stock Sensex dropped by over 3 per cent soon after opening.

"Markets are nervous, general volatility will affect India, but the long-term Indian markets are unlikely to be affected deeply," financial analyst Rita Menon said.

Most of the plunging stocks were in the banking sector and Indian companies with businesses in Britain. There are at least 800 Indian companies doing business in Britain, largely using it as a gateway to the European market.

Last update: Fri, 24/06/2016 - 08:49

More from World

Second group of rejected Afghan asylum seekers returns from Germany

A group of 26 Afghan asylum seekers whose requests to live in Germany were rejected arrived back in their home...

Czech sex offender suspected of spreading HIV deported from Thailand

Thai police have deported a Czech national believed to be infected with HIV and wanted by Interpol for sex-related...

TPP members vow to keep trade deal alive after US exit

Asia-Pacific countries hoping to create a regional trading zone as part of the largest-ever trade deal said Tuesday...

Australia will continue pursuing trade deal, minister says

Australia is not giving up on the historic Trans-Pacific Partnership, despite US president Donald Trump withdrawing...

Militants in Ukraine, Turkey and Yemen fuel rise in global attacks

The number of attacks worldwide by terrorists and militants soared by 26 per cent to more than 24,000 last year,...