Ringgit Jumps Most Since 2010, Stocks Reach Record Post Election

Malaysia’s ringgit rallied the most since 2010 and stocks rose to a record after Prime Minister Najib Razak won a clear majority in the election, giving him a mandate to continue his economic reforms.

The currency appreciated 1.8 percent to 2.9793 per dollar in Kuala Lumpur, the biggest advance since June 2010, data compiled by Bloomberg show. It reached 2.9625, the strongest level since Sept. 2, 2011. The FTSE Bursa Malaysia KLCI Index climbed 3.4 percent to an all-time high of 1,752.02 at the close, the best performance since November 2008. It rose as much as 7.8 percent earlier.