KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
Greece definitely know how to grab headlines.
The referendum announcement to decide on whether to accept austerity or not. Then, Greece becoming the first developed country to default on the IMF. Then the capital controls being imposed. The Greeks stand by their Prime Minister, Tsipras when 61% vote No. And then, the controversial Finance Minister at that time, Yanis Varoufakis resigned After Referendum, paving the way for a last round of discussion between Greece and the Euro creditors.
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The warning has been given: German Chancellor Angela Merkel warned that “only a few days” are left to reach a deal.
Euro-area finance chiefs will discuss Greece’s request on a conference call Wednesday morning, the first step toward restarting negotiations that Greece broke off late last month. The rapprochement lessens the risk that the European Central Bank will pull the plug on Greek banks, which are bleeding cash and have been shut for seven business days.
The roadmap toward a possible third medium-term aid program emerged from Tuesday’s meeting of euro finance ministers, the first since Sunday’s anti-austerity referendum and the appointment of Euclid Tsakalotos as Greek finance minister.
Finnish Finance Minister Alexander Stubb, an outspoken critic of Greece’s economic management, termed the meeting a “good conversation” with the new Greek minister.
It definitely sound more like good news though but will it be too late?
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