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