M'sian equities and ringgit plunge, Dr M hits out at Najib

Kuala Lumpur

FOREIGN selling of Malaysian equities continued unabated on Monday with heavyweights bearing the brunt of a stampede to exit and the ringgit shrinking to 3.936 to the US dollar, as former prime minister Mahathir Mohamad conceded a bleak future for the country under embattled Prime Minister Najib Razak who he said is driving it to the brink to remain in power.

The stockmarket sell-off - although expected following further declines last week in Malaysia's international reserves to US$96.7 billion from a high of US$141 billion in 2013 - saw the benchmark FBMKLCI fall 1.7 per cent to 1,654 points, a level last seen in March 2013.