Malaysia Stocks, Currency Decline After PM Dissolves Parliament

The benchmark Kuala Lumpur Composite Index dropped as much as 1.6% in a third day of losses as trading resumed after a holiday. Photo: Bloomberg

(Bloomberg) — Malaysia’s stocks and the ringgit weakened after Prime Minister Ismail Sabri Yaakob announced the dissolution of parliament on Monday, paving the way for elections this year.

The benchmark Kuala Lumpur Composite Index dropped as much as 1.6% in a third day of losses as trading resumed after a holiday, mirroring declines in Asia. Electronics company Inari Amertron Bhd, Press Metal Aluminium Holdings Bhd and Top Glove Corp Bhd were among the biggest losers on the gauge. The ringgit slid 0.5% versus the dollar.