ahlam1399
06-24-2016, 12:18 PM
ISLAMABAD: Pakistani shares fell 2 percent in early trading on Friday, hurt by a global sell-off in risk assets after Britain voted to leave the European Union.
At 1017 local time (0517GMT), the benchmark 100-share index of the Pakistan Stock Exchange traded 1.96 percent lower at 37,484.18 points.
"It´s due to Brexit. It´s the volatility in global markets," said Saad Hashmey, chief eco**mist and director of research for Topline Securities.
Traders said banking and oil stocks were leading the decline.
Southeast Asian stock markets plunged on Friday as investors went on a selling spree after Britons voted to leave the European Union.
World financial markets dived as nearly complete results showed a 51.7/48.3 percent split for leaving the 28-member bloc.
Sterling suffered its biggest one-day fall of more than 9 percent against the dollar, hitting its lowest level in three decades on market fears the decision will hit investment in the world´s fifth largest eco**my.
Commodity markets slumped as well, with oil prices falling more than 4 percent in Asian trading.
"We think UK´s EU exit will generate large volatility in the market given most market participants were betting on a Bremain scenario," said Taye Shim, a strategist with Daewoo Securities in Indonesia.
"Today´s movement is a clear evidence that markets hate unpredictable uncertainties."
Singapore shares were heading for their biggest percentage loss in more than four months, while Vietnam fell over 3 percent.
In the city state, most sectors dropped over 1 percent with oil and gas stocks leading the losses.
Vietnam shares fell, led by energy stocks including Petrovietnam Gas Joint Stock Corp, while the Philippine market fell nearly 2 percent, after hitting a 13-month high in early trading.
Malaysian stocks hit a one-week low, weighed down by consumer cyclicals, while Thai shares slid nearly 3 percent as the energy sector took a hit.
Indonesia fell over 2 percent with consumer cyclicals leading the losses.
"Although we see limited direct impact of UK´s EU exit on Indonesia, we believe the spillover will place negative repercussions on risky assets including Indonesia," said Taye Shim of Daewoo Securities.
Asian stocks were down with MSCI´s broadest index of Asia-Pacific shares outside Japan down 5.1 percent.
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At 1017 local time (0517GMT), the benchmark 100-share index of the Pakistan Stock Exchange traded 1.96 percent lower at 37,484.18 points.
"It´s due to Brexit. It´s the volatility in global markets," said Saad Hashmey, chief eco**mist and director of research for Topline Securities.
Traders said banking and oil stocks were leading the decline.
Southeast Asian stock markets plunged on Friday as investors went on a selling spree after Britons voted to leave the European Union.
World financial markets dived as nearly complete results showed a 51.7/48.3 percent split for leaving the 28-member bloc.
Sterling suffered its biggest one-day fall of more than 9 percent against the dollar, hitting its lowest level in three decades on market fears the decision will hit investment in the world´s fifth largest eco**my.
Commodity markets slumped as well, with oil prices falling more than 4 percent in Asian trading.
"We think UK´s EU exit will generate large volatility in the market given most market participants were betting on a Bremain scenario," said Taye Shim, a strategist with Daewoo Securities in Indonesia.
"Today´s movement is a clear evidence that markets hate unpredictable uncertainties."
Singapore shares were heading for their biggest percentage loss in more than four months, while Vietnam fell over 3 percent.
In the city state, most sectors dropped over 1 percent with oil and gas stocks leading the losses.
Vietnam shares fell, led by energy stocks including Petrovietnam Gas Joint Stock Corp, while the Philippine market fell nearly 2 percent, after hitting a 13-month high in early trading.
Malaysian stocks hit a one-week low, weighed down by consumer cyclicals, while Thai shares slid nearly 3 percent as the energy sector took a hit.
Indonesia fell over 2 percent with consumer cyclicals leading the losses.
"Although we see limited direct impact of UK´s EU exit on Indonesia, we believe the spillover will place negative repercussions on risky assets including Indonesia," said Taye Shim of Daewoo Securities.
Asian stocks were down with MSCI´s broadest index of Asia-Pacific shares outside Japan down 5.1 percent.
http://feeds.feedburner.com/~r/com/YEor/~4/TG6P7pdhExo
أكثر... (http://feedproxy.google.com/~r/com/YEor/~3/TG6P7pdhExo/130375-Pakistan-stocks-fall-2-pct-Brexit-volatility)