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Malaysian stocks and the ringgit fell when markets reopened on May 14, 2018, after a two-day closure following the opposition coalition's election win. The KLCI dropped 1.7% at the open and the ringgit hit 3.98 per US dollar, its weakest since November 2016.
Investors are concerned about campaign pledges to scrap the GST and restore fuel subsidies.
A weaker ringgit raises the cost of ringgit-denominated inputs priced in USD and signals capital outflow risk for Malaysian assets. Fiscal worries over the GST repeal could also weigh on sentiment for the rest of the year.
straitstimes.comMay 14, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
