KLCI falls for seventh consecutive day as risk aversion returns

KUALA LUMPUR: The FBM KLCI continued its decline for the seventh day running with a drop of 21.28 points on Monday as investors sold equities in favour of safe haven assets such as the Japanese yen and gold, both of which surged.

Asian equities were mixed, while the ASX200 advanced by 2% following the Australian Central Bank's surprise decision to cut its benchmark rate to a record low. Meanwhile, gold continues to hover at the USD1,300 level while the dollar weakened to its lowest in more than a year.