THE immediate impact to Malaysia from UK leaving the European Union (EU) will be a weaker ringgit, which fell steadily against the US dollar at a pace last seen in the Asian financial crisis of 1997/1998 by midday yesterday as investors dumped riskier assets in emerging markets for so-called safe-haven assets such as US treasuries, Japanese government bonds, German bunds and gold.
Asian financial markets reacted rapidly when realisation set in that the “Leave” vote was leading with Tokyo’s Nikkei 225 and Topix benchmark indices plunging. Similarly, the FBM KLCI had fallen 22.66 points by the midday break. While the local bourse recovered most of the losses from earlier in the day, the intraday price movements is an indicator of what may come in the forseeable future.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
Asian financial markets reacted rapidly when realisation set in that the “Leave” vote was leading with Tokyo’s Nikkei 225 and Topix benchmark indices plunging. Similarly, the FBM KLCI had fallen 22.66 points by the midday break. While the local bourse recovered most of the losses from earlier in the day, the intraday price movements is an indicator of what may come in the forseeable future.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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