Malaysia’s stock market, ringgit under pressure as Anwar, Muhyiddin tussle to form government

[KUALA LUMPUR] Malaysia’s stock market and ringgit endured a rough ride on Monday (Nov 21), the first trading day after a hotly contested 15th general election that led to the country’s first hung parliament and continued uncertainty over who would form the next government.

The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (KLCI) fell by as much as 18 points , or 1.2 per cent, to 1,431.54 – from last Thursday’s close of 1,449.32. The index closed marginally lower at 1,447.96 points at 5 pm.

The downtrend saw 510 decliners and 378 gainers, while 362 counters were unchanged and 48 counters suspended. Turnover stood at 4.29 million units worth RM2.5 billion (S$749 million).