Brexit Vote Count via Yahoo
The pounds get pounded and dropped 9.7% to 1.345 as at 12:10 pm Malaysian time.
Chart 1: GBP-USD's 30-min chart as at June 24, 2016 (Source:Investing.com)
Our FBMKLCI dropped 22 points to 22 points to 1617!
Chart 2: FBMKLCI's 30-min chart as at June 24, 2016 (Source: ShareInvestor.com)
We know that Brexit will likely impact a few listed companies directly. The Star newspaper - quoting a Maybank Investment Bankreport- listed down the major Malaysian investments in the UK: property developments (Battersea by SP Setia, Sime Darby), regulated assets (YTL Power), casino ops (Genting Malaysia (GENM), and renewable energy (KNM Group). The indirect impact is unknown. What's unknown is always very scary!! If you are scared, you sell in the market. I think we must remain calm in this maelstrom. I feel that the selling is overdone.
3 comments:
It is not a surprise. The person feeling that drive the outcome. I was in UK in 2009 and learn that the impact of influx of immigrants. The British is very unhappy of it. They believe their welfare and employment at affect. Asia didn't see it coming and the wave might also impact EU and US presidential election (copycat). Interesting to see how it develop in near future.
Yes, uncertainties always are scary. But I chose to top up some good fundamental counters that fall today...
The situation might not be that simple. Scotland wanted to be in EU and independence. It Scotland go ahead and UK with be breaking up. I have followed the news and it could be possible.
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