After shocking election result, Malaysia may be headed for market volatility, economic change
(Worthy News) – A historic win at Malaysia’s general election by the opposition alliance led by the country’s former leader, Mahathir Mohamad, will likely send markets on a wild ride, although analysts said long-term prospects appeared encouraging.
Mahathir’s Pakatan Harapan scooped up 113 of the 222 available parliament seats, exceeding the 112 seats needed for a simple majority and upsetting the incumbent Barisan Nasional coalition.
Uncertainty will likely be a focus in the short term for markets following the surprise result.
“The Malaysia election outcome is a huge upset, no pollster was expecting this. This upset ranks up there with Brexit and [the] Trump election,” said Aninda Mitra, senior sovereign analyst at BNY Mellon Investment Management. [ Source: CNBC (Read More…) ]
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