BNM: Financial Markets Well Positioned To Face Volatility From Brexit

KUALA LUMPUR, June 23 (Bernama) -- Liquidity in the domestic market remains ample and the financial markets are well positioned to face any major volatility arising from United Kingdom's (UK) referendum on European Union (EU) membership (Brexit). In a statement, Malaysia's Central Bank (BNM) said financial market players stand ready to support the orderly functioning and smooth intermediation in the financial markets. "The Financial Market Committee also would like to inform that its members will continue to provide the liquidity to the financial markets as required," the central bank said. BNM said given the significance of the event, the impact and volatility could spillover onto financial markets. BNM, together with the Malaysian financial market participants, are monitoring and will remain vigilant to any potential emerging risks and challenges to the domestic financial markets. The UK referendum on its EU membership is on Thursday with the results expected on the afternoon of Friday, June 24, between 2 pm and 4 pm local time. On Friday, market players will commence the operating hours early and trading will be extended to 6 pm to facilitate market transactions for all market participants. -- BERNAMA