Pakistan stocks nose dive nearly 800 points after Donald Trump's victory

KARACHI: Pakistan's stock exchange shed nearly 800 points on the KSE 100-index after Donald Trump's victory over Hillary Clinton in the US presidential elections.

Trump relied heavily on anti-Muslim rhetoric during his election campaign and has pledged to ban the entry of Muslims in the US.

Stock market dealers said the Karachi Stock Exchange which is now renamed the

Pakistan Stock Exchange

had lost around 770 points or 1.8 per cent since early morning trading.

Many Pakistanis consider Trump as no friend of Muslims or Pakistan and fear his reckless policies could wreck the world's top economy and hit world markets.

The KSE-100 Index, however, recovered almost half its losses, but was still down 428 points, or 1.02 per cent before closing bell.

In a stunning result, billionaire businessman Trump beat seasoned politician Clinton in the knife-edge polls, defying the odds to become the 45th US President after starting off as a rank political outsider.