Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) down 2.8% 

 Hong Kong (Hang Seng Index) down 1.5% (at break) 

Shanghai (Shanghai Composite Index) down 1% (at break) 

 Sydney (S&P/ASX 200) down 2% 

 Seoul (Kospi) down 1.6% 

 Mumbai (Sensex) down 1.4% 

 Taipei (Taiex) down 2.2%

Asian Market Update

Asian markets tumbled Tuesday following painful losses in New York and Europe while the euro sat near nine-year lows as political uncertainty in Greece fanned renewed fears it could leave the eurozone.

Oil prices, which fell below the psychological US$50 a barrel mark in US trade, edged up marginally but remained under pressure owing to a global supply glut, weak demand and a stronger dollar.

Tokyo tumbled 2.50 per cent, Hong Kong lost 0.89 per cent, Sydney eased 1.67 per cent, Seoul was 1.30 per cent lower while Shanghai reversed earlier losses to gain 0.70 per cent.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 9.95 points to 1730.94.

Volume was 43.11 million lots worth RM15.45 million.

Losers outnumbered gainers 195 to 22.

Market Closing Update

MALAYSIAN shares ended lower on Monday with the Kuala Lumpur Composite Index slipping 16.15 points to close at 1,736.62.

Some 1.47 billion lots, valued at RM1.41 billion were traded. Gainers numbered 271 while losers numbered 502.

Forex Market Update

 A decision by a new Greek government to leave the eurozone would set off devastating turmoil in financial markets even worse than the collapse of Lehman Brothers in 2008, a leading international economist warned Saturday.

A Greek exit would likely spark runs on Greek banks and the country’s stock market and end with the imposition of severe capital controls, said Barry Eichengreen, an economic historian at the University of California at Berkeley. He spoke as part of a panel discussion on the euro EURUSD, -0.81%  crisis at the American Economic Association’s annual meeting.

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