Thursday 28 Mar 2024
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KUALA LUMPUR (June 28): The FBM KLCI remained in early trade today as the fallout from Britain’s vote to exit the European Union continued to hammer global equity markets.

At 9.05am, the FBM KLCI lost 6.88 points to 1,622.64.

The top losers included PPB Group Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, Selangor Properties Bhd, Kuala Lumpur Kepong Bhd, RHB Bank Bhd, Petronas Chemicals Group Bhd, Top Glove Corporation Bhd, Lafarge Malaysia Bhd, Telekom Malaysia Bhd and Maxis Bhd.

Global equities took another step down in Asia on Tuesday, with regional markets sliding and sterling wallowing near three-decade lows as Britain's shock vote to exit the European Union continued to roil financial markets, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan slumped 0.3 percent, after Wall Street marked its worst two-day drop in about 10 months, it said.

JF Apex Securities Research in a market preview today said US markets tumbled over 1% lead by materials counters after last week's Brexit vote.

It said that similarly, European stocks plunged for a second day as post-Brexit concerns continue to rock the market. 

“On the local market, the FBM KLCI ended 4.53 points lower at 1629.52 points after recovering from an intraday low of 1618.25 points.
“The bearish sentiment continue to linger after Brexit and the FBM KLCI is expected to remain volatile with immediate support at 1610 points,” it said.

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