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Friday, 24 June 2016

Welcome to mjventertainment.blogspot.com: "I am not shocked," he said of the results of the British referendum, adding: "We were prepared." Financial Market Reaction The financial markets reacted with disbelief and shock hit financial trading rooms on after the final decision was announced sparking upheaval across Asian markets. Sharemarkets in the region spiralled into the red after early forecasts during morning trade that Britons would choose to stay in the grouping gave way to results pointing towards an exit. "We all read the same information, we all watch the same screens and clearly the betting companies didn't have this one," Westpac bank's global FX strategy head Robert Rennie told French news agency AFP of the result, which saw the Australian market dive almost four percent at one point. "The polls didn't have this one and much of the economic and strategy community, including myself to be fair, didn't have this one as well. "So I think this (mood) is one of disbelief that this could happen right here, right now." In Tokyo, Yosuke Hosokawa, who heads Sumitomo Mitsui Trust Bank's currency sales team, said he had not seen "such a chaos in a while" as the British pound plummeted in response to the result. Tokyo's Nikkei index nosedived almost eight percent while the yen jumped as taders rushed into safe-haven currencies.  

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