KLCI up 11.87pts as Brexit shock wanes

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KUALA LUMPUR (June 30): The FBM KLCI rose 11.87 points or 0.72%, tracking Asian share gains as the immediate impact from the UK's European Union exit (Brexit) decision waned.

At 5pm, the KLCI closed at 1,654.08 points, not far from its intra-day high of 1,654.17 points. Across Asia, Japan's Nikkei 225 climbed 0.06% while Hong Kong's Hang Seng rose 1.75%.

Reuters reported that Asian stocks rose on Thursday, tracking an overnight rally on Wall Street, while the safe-haven Japanese yen was held in check as global markets regained a semblance of calm after the Brexit shock.

In Malaysia, Inter-Pacific Securities Sdn Bhd research Pong Teng Siew told theedgemarkets.com that most investors realised there was no immediate impact and changes after the Brexit referendum.

"Whether the impact from Brexit will hurt the UK or not and the extent of it, all of these are still very uncertain at this point of time," Pong said.

On the broader market, Bursa Malaysia saw 1.46 billion shares worth RM2 billion traded. Decliners beat gainers at 387 against 385.

British American Tobacco (Malaysia) Bhd was the top gainer while Scientex Bhd led top decliners. Vivocom Intl Holdings Bhd was the most-actively traded stock.