Malaysia's stock market falls 1.7% at open after shock election result
[KUALA LUMPUR] Malaysia's stock market fell 1.7 per cent at the open of trade on Monday while its currency dropped 0.9 per cent, in the first session since the stunning election defeat of the coalition that had ruled the country for six decades.
Markets had been closed since last Wednesday's election, which unexpectedly swept Mahathir Mohamad back to the office of prime minister, and traders had widely expected stock prices and the currency to drop.
The currency touched a four-month low of 3.9850 against the US dollar in early Monday.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
Thai central bank says holding key rate steady creates ‘policy optionality’
Vietnam holds first gold auction in 11 years to stabilise market
8 in 10 firms in S-E Asia, Greater China positive about business environment: UOB survey
Thailand to replace military-appointed Senate, reduce its powers
Vietnam tech giant VNG seeks global push in gaming, AI cloud
Thailand’s 500 billion baht stimulus project gets Cabinet approval