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Malaysian Currency, Stocks Decline As Parliament Remains Deadlocked

Started by Epoch-Times-Bot, Nov 21, 2022, 05:30 AM

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Epoch-Times-Bot

Nov 21, 2022, 05:30 AM
Malaysian Currency, Stocks Decline As Parliament Remains Deadlocked

Malaysia’s currency and stocks fell on Monday as the country’s election remains in deadlock and no party secured an outright majority in parliament.
The Malaysian Ringgit fell to 4.5780 against the U.S. dollar on Monday from 4.5480 at Thursday’s close, while the benchmark Kuala Lumpur Composite Index (KLCI) slid 1.5 percent in early trading.
Malaysian markets are anticipated to remain volatile until a new leader is appointed. The country faced its first hung parliament as no party won enough seats in the Nov. 19 election.
Pakatan Harapan (PH), a left-wing coalition led by opposition leader Anwar Ibrahim, won the most seats with 82. Former prime minister Muhyiddin Yassin’s pro-Malay Perikatan Nasional (PN) party won 73 seats....

Source: Malaysian Currency, Stocks Decline As Parliament Remains Deadlocked

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