KLCI sees over 17 pts erased, ringgit at 16-year low (Update)

KUALA LUMPUR: Key Asian markets except for China closed sharply lower on Monday, following Greeks’ move to reject the bailout terms, while the FBM KLCI lost more than 17 points on continued selling by foreign funds and the ringgit sunk to a 16-year low.

At Bursa Malaysia, foreign funds continued to reduce their shareholdings in Malaysian equities, with net selling -RM199.24mil while local retail investors were seen stepping up their buying with net buying at RM8.75mil. Local institutions were net buyers at RM190.49mil.