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| Asian shares see severe falls ahead of UK referendum result | Asian shares see severe falls ahead of UK referendum result |
| (35 minutes later) | |
| Asian shares have fallen sharply as the UK referendum on EU membership sees the Leave campaign take the lead. | Asian shares have fallen sharply as the UK referendum on EU membership sees the Leave campaign take the lead. |
| After initial gains, Japan's benchmark Nikkei 225 was down 7.7% to 14,982.48 points. | |
| With the majority of votes counted, the BBC forecasts that the UK has voted for their country to leave the European Union. | With the majority of votes counted, the BBC forecasts that the UK has voted for their country to leave the European Union. |
| Investor sentiment is rattled by the looming uncertainty on global markets should the UK leave the bloc. | |
| As the British pound, hits its lowest levels since 1985, the yen has surged to 101 to the US dollar as investors now see the Japanese currency as a safe haven. | |
| Analysis: Karishma Vaswani, Asia Business correspondent | |
| It wasn't supposed to be like this, one trader in Singapore told me this morning. His clients had priced in a Remain vote, and were - as he put it - pretty "complacent" about the results from the EU Referendum. | It wasn't supposed to be like this, one trader in Singapore told me this morning. His clients had priced in a Remain vote, and were - as he put it - pretty "complacent" about the results from the EU Referendum. |
| But as the results started trickling in, the mood has most definitely soured. Another trader told me that activity on the firm's trading desk in Australia was so frenetic, that Singapore had to start taking some of the calls. Investors are in panic mode. | But as the results started trickling in, the mood has most definitely soured. Another trader told me that activity on the firm's trading desk in Australia was so frenetic, that Singapore had to start taking some of the calls. Investors are in panic mode. |
| It's the same all over Asia. Shares sensitive to what goes on in the British economy and that are listed in London and in HK like Standard Chartered Bank, HSBC, Prudential and Glencore all taking a hit as investors sell, sell, sell and pour their money into traditional safe bets like gold. | It's the same all over Asia. Shares sensitive to what goes on in the British economy and that are listed in London and in HK like Standard Chartered Bank, HSBC, Prudential and Glencore all taking a hit as investors sell, sell, sell and pour their money into traditional safe bets like gold. |
| Investors in Asia are on edge today, as they try and make sense of the results coming in from the UK. As one market watcher in Singapore told me, the last time there was this much chopping and changing in the markets was during the "Great Fall of China's stocks" last summer. | Investors in Asia are on edge today, as they try and make sense of the results coming in from the UK. As one market watcher in Singapore told me, the last time there was this much chopping and changing in the markets was during the "Great Fall of China's stocks" last summer. |
| In South Korea, the Kospi index was 3.9% lower at 1,909.18. The Korean won has dropped the most against the US dollar since October 2011. | |
| Australia's ASX/200 fell sharply by 3.4% to 5,100.00 points. | Australia's ASX/200 fell sharply by 3.4% to 5,100.00 points. |
| In China, the mainland Shanghai Composite was down 1.2% to 2,857.58 while Hong Kong's Hang Seng is down sharply 4.7% to 19,894.12 points. | In China, the mainland Shanghai Composite was down 1.2% to 2,857.58 while Hong Kong's Hang Seng is down sharply 4.7% to 19,894.12 points. |
| Mumbai's Sensex in India also fell by 3.4% to 26,022.60 points. | |
| "There has been a sharp knee-jerk reaction in markets, as hopes of Bremain had gained traction in the past week," Shubhada Rao, analyst with Yes Bank in Mumbai told the BBC. | |
| "In the near-term, equity and currency markets could test new lows, while continuing to closely watch developments in UK for the way ahead." |