Asia Markets: Nikkei returns to 20,000 as Asian markets warily eye U.K. election

Asian stocks started Friday trading mixed, in a wait-and-see mode as exit polls suggested the U.K.’s governing Conservative party failed to keep its parliamentary majority in Thursday’s general election there.

The polls sent the pound down some 2% versus other currencies, but moves in other markets have been muted. S&P 500 futures were recently down 0.1%.

“Obviously it’s looking more and more likely that we are going to see a hung government” and “the uncertainty that that brings is not good for” stocks anywhere, said Grant Williamson, a director at New Zealand advisory firm Hamilton Hindin Greene.

But he also cautioned that election-related market moves are likely to be short-lived: “You’ll get a one- or two-day selloff, but the market is pretty resilient.

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