Brexit’s impact on Malaysians

Market uncertainty: People work as screens display news and trading rates at the Euronext Stock Exchange services in Paris’ financial district of La Defense yesterday as Britain votes to leave the European Union, fuelling a wave of global uncertainty. – AFP

Investors dump risky assets to go into safe-haven ones

THE immediate impact to Malaysia from UK leaving the European Union (EU) will be a weaker ringgit, which fell steadily against the US dollar at a pace last seen in the Asian financial crisis of 1997/1998 by midday yesterday as investors dumped riskier assets in emerging markets for so-called safe-haven assets such as US treasuries, Japanese government bonds, German bunds and gold.