Asian Market Update : Epic Research Malaysia

Asian markets resumed their downward spiral Thursday after Federal Reserve boss Janet Yellen sounded a warning over a possible British exit from the EU, while investors prepare for a keenly awaited Japanese central bank policy decision.

After a two-day meeting the Fed lowered its growth forecasts for this year and the following two, and flagged interest rates rises to be lower and slower, highlighting increasing concern about the US and global economic outlook.

Her comments dragged New York stocks lower and sent the dollar tumbling against the yen and even the British pound despite fears of Britain leaving the EU.

In a news conference after the Fed kept interest rates unchanged, Ms Yellen voiced confidence in the US economy but said there were concerns about the impact a British exit would have across the world.

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