KUALA LUMPUR (Nov 9): The FBM KLCI fell 16.2 points or 1% with Asian shares on Republican candidate Donald Trump's US presidential election victory.

Analysts said Trump's victory led to uncertainty on US policies on the global political and economic backdrops.

"Trump's surprise win offers substantial downside for equities given heightened uncertainty. We expect volatility to rise, valuation multiples to contract and earnings to disappoint. US equity 'safer-haven' may well outperform the rest of the world," HSBC Global Research wrote in a note today.

At 5pm, the KLCI closed at 1,647.62 points. Across Asia, Japan's Nikkei 225 dropped 5.36% while Hong Kong's Hang Seng fell 2.16%.

In Malaysia, Malacca Securities Sdn Bhd technical analyst Loui Low Ley Yee told theedgemarkets.com that selling pressure in the market was seen as soon as Trump led in the election against Democratic candidate Hillary Clinton.

"There are a lot of uncertainties in the market over a Trump presidency, which is why a lot of investors have gone for safe-havens such as gold," Low said.

Reuters reported that Trump stunned the world on Tuesday by defeating heavily favoured Clinton in the race for the White House, ending eight years of Democratic rule and sending the United States on a new, uncertain path.

A wealthy real estate developer and former reality TV host, Trump rode a wave of anger toward Washington insiders to defeat Clinton, whose gold-plated establishment résumé includes stints as a first lady, US senator and secretary of state.