Bloomberg reports that investors/traders have dumped the ringgit, and the currency suffered the sharpest decline immediately after news of Anwar’s arrest broke.
Investors have sold Malaysian stocks since the elections, driving the benchmark index down 23 percent this year. That’s worse than the performances of the indexes in neighboring Thailand, Indonesia and Singapore.
The Kuala Lumpur Composite index extended declines today after the arrest, losing 0.7 percent to a 16-month low. The Malaysian ringgit was the region’s worst performer today, weakening 0.3 percent against the U.S. dollar.
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