BACK in 2018, following the historic defeat of Malaysia's scandal-hit Barisan Nasional (BN) party, the gloom in the country's stock market contrasted sharply with the general euphoria among Malaysians, who harboured high hopes for reforms and better governance.
Investors had voted with their feet given the unfamiliarity of a new regime other than BN, which had ruled the country for 6 decades since independence.
Bursa Malaysia's key barometer, the FTSE Bursa Malaysia KLCI, tumbled in the ensuing 30 days post General Election 14 (GE14). The decline was also a breakaway from most past elections, which saw stocks rise on the back of the election outcome.
The weeks prior to GE14, however, told a different...