KUALA LUMPUR/SINGAPORE (Mar 12): The euphoria following Malaysia’s historic election last May has faded, leaving its stock market as Asia’s only one in the red this year.
The benchmark FTSE Bursa Malaysia KLCI index has fallen more than 1% so far in 2019, the only decliner in the region, while neighboring Singapore has surged 4% and Indonesia gained 3%. The trend is unlikely to change as investors wait for Malaysian government initiatives to cut the budget deficit, clamp down on corruption and boost purchasing power.
