Asian stock markets settled lower on Wednesday as Republican Donald Trump won the U.S presidential race, shocking investors who had expected Democrat Hillary Clinton to win.

Japan's benchmark index, Nikkei 225 plunged 919.84 points or 5.36 percent to settle at 16,251.54. China's benchmark index, Shanghai Composite lost 19.52 points or 0.62 percent to close at 3,128.37. Hong Kong's Hang Seng plunged 494.28 points or 2.16 percent to end at 22,415.19.

Singapore's Straits Times lost 30.36 points or 1.08 percent to end at 2,789.88. South Korea's KOSPI plunged 45.00 points or 2.25 percent to end at 1,958.38. Taiwan's TAIEX plunged 274.23 points or 2.98 percent to end at 8,943.20.