Market Close KLCI falls 11.45pts as Brexit concern mounts

by **Cals** Tue 14 Jun 2016, 02:36

Market Close

[size=28]KLCI falls 11.45pts as Brexit concern mounts

By Yimie Yong / theedgemarkets.com | June 13, 2016 : 6:06 PM MYT

KUALA LUMPUR (June 13): The FBM KLCI fell 11.45 points or 0.7% with Asian share markets, on concerns the UK may leave the European Union (EU) and as investors anticipated the direction of U.S. interest rates.

Reuters reported global market volatility has surged ahead of this week's central bank meetings, as well as Britain's June 23 referendum on whether to remain in the EU.

In Malaysia today, the KLCI closed at 1,629.77 points, as investors assessed the impact of the UK's potential EU exit, which is popular known as Brexit. The U.S. Federal Reserve meets tomorrow and Wednesday (June 14 and 15) to decide on the nation's interest rate.

Across Asian share markets today, Japan's Nikkei 225 fell 3.51%. In China, Hong Kong’s Hang Seng declined 2.52%, while Shanghai Composite dipped 3.21%.

China economic data also dictated Asian share markets, on news China's fixed-asset investment growth was slower than forecast.

In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com that a possible Brexit "might trigger a bigger risk, where other EU countries might follow the UK's example."

Bursa Malaysia saw 1.48 billion shares, worth RM1.21 billion traded. Decliners beat gainers at 643 against 203.

Hang Seng-linked put warrants dominated Bursa Malaysia top gainers, as investors bought these warrants to hedge against broader market losses.

Bursa Malaysia's leading decliner was Chin Teck Plantations Bhd, while Trive Property Group Bhd was the most actively-traded stock.
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