Asian stock markets started the day up slightly Friday as the results of Britain’s referendum on its European Union membership began to come in.
The pound sank against the U.S. dollar and the euro as the count in two polling districts gave the exit camp narrow wins.
Sydney’s ASX 200 kicked off the day up just over a quarter of a percentage point. Tokyo’s Nikkei 225 started with a gain of about three-quarters of a point, and the Kospi index in Seoul was up just over half a point. Gold rose slightly in Sydney, and the Australian dollar and the Japanese yen ticked higher against the U.S. dollar.
Financial market participants around the world have been bracing for this day. Should the campaign to leave the EU win, there are predictions the British pound could weaken quickly and that investors dumping British assets could roil markets around the world.
The Organization for Economic Cooperation and Development, the International Monetary Fund and other market experts have warned that the uncertainty caused by what’s being called a Brexit could cause substantial economic impact.
The final vote tally was expected after 2 a.m. in London (0100 UTC).
via Voice of America http://ift.tt/28RddVu
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