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Monday, 27 June 2016

Asian stocks, pound fall in Brexit aftershocks early Monday(Update)

TOKYO: Asian stocks fell and the British pound tumbled greater than 2 percentage in early trade on Monday as markets struggled to shake off deep uncertainty sparked by Britain's choice to leave the european Union.

The worst of the turmoil seen on Friday, when global stock markets suffered their largest decline in almost 5 years, had eased, but sentiment remained susceptible and buying and selling was risky.

"matters are so uncertain that traders nevertheless do no longer have a clear concept how much hazard assets they need to sell," stated Hiroko Iwaki, senior overseas bond strategist at Mizuho Securities.

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