Asian stock markets are trading lower on Thursday as a tightening U.S. presidential race saw the S&P 500 suffer its longest losing streak in five years as investors fled to safer harbours.

Japan's benchmark index, Nikkei 225 lost 307.72 points or 1.76 percent to trade at 17,134.68. Hong Kong's Hang Seng lost 28.57 points or 0.13 percent to trade at 22,781.93.

Singapore's Straits Times fell 9.76 points or 0.35 percent to trade at 2,797.38. Taiwan's TAIEX fell 24.22 points or 0.27 percent to trade at 9,114.82.

On the other hand, China's benchmark index, Shanghai Composite rose 4.05 points or 0.13 percent to trade at 3,106.78. South Korea's KOSPI went up 3.07 points or 0.16 percent to trade at 1,982.01.