Friday, 24 June 2016

KLCI slides more than 15pt as worries about Brexit mount

Key Asian markets and Bursa Malaysia fell in volatile trade in late Friday morning trade as worries about Britain leaving the EU grew as the voting continued.

At 11.16am, the FBM KLCI was down 15.67 points or 0.96% to 1,624.31. Turnover was 738.86 million shares valued at RM522.60mil. Decliners beat advancers nearly six to one or 583 losers to 108 while 229 counters were unchanged.

Reuters reported Carnage came to world markets on Friday as early voting returns suggested Britain was on the brink of leaving the EU, threatening the existence of the entire bloc and its single currency. Risk assets were scorched as investors fled to the safety of top-rated government debt, with FTSE futures off 6%  and EMINI S&P 500 futures down 3.5%.

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