Economics
This Is What Mahathir’s Return Just Did to Malaysian Stocks
- Construction and politically-linked stocks to suffer: Affin
- Ringgit move will impact export-driven stocks like chipmakers
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There’s one word to describe Malaysia’s stock market as it reopened Monday after a three-day break that saw the opposition party win office for the first time in six decades: Volatile.
The nation’s FTSE Bursa Malaysia KLCI Index rose 0.2 percent after earlier plunging as much as 2.3 percent Monday, as the benchmark fluctuated between 79 points.The market was shut for three days last week as Mahathir Mohamad led an alliance to unexpectedly beat the ruling Barisan Nasional coalition. In his first remarks as prime minister of Malaysia, Mahathir said he’d lead a business-friendly administration and find ways to boost the nation’s equity market.