Asian stocks saw a decline in early trading as Donald Trump took an initial lead in the U.S. elections.

The MSCI Asia Pacific Excluding Japan Index fell close to 1%, driven largely by losses in Hong Kong-listed Chinese tech companies, including Alibaba and Meituan.

The Hang Seng China Enterprises Index experienced a 3% decline, reflecting investor concerns about possible trade tensions under a potential Trump presidency.

Meanwhile, mainland Chinese stocks remained stable, buoyed by expectations of further stimulus from Beijing.

Recent Alibaba developments