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Malaysian markets reacted cautiously to Mahathir Mohamad's return as prime minister on May 14, 2018. The ringgit fell only about 1% at its worst, far less than the 4% implied by offshore forwards, and the stock index recovered from an early 2.7% drop.
Investors cited Malaysia's current-account surplus, solid growth and the appointment of seasoned economic officials.
A calmer-than-feared reaction suggests limited near-term pressure on the ringgit, which reduces the immediate upward push on USD/MYR.
beta.malaymail.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.
