Malaysia Stocks Slump to Six-Week Low on Election Concerns
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Malaysian stocks sank to a six-week low as election concerns made equities more volatile than the benchmark emerging-market index for the first time in almost five years. The ringgit weakened.
The FTSE Bursa Malaysia KLCI Index slid 0.4 percent to 1,628.66 in Kuala Lumpur to its lowest close since Dec. 7, amid speculation impending polls will weaken the ruling coalition’s grip on power. It sank 2.4 percent yesterday, the most since September 2011. The gauge’s 30-day volatility rose to 10.4 yesterday, the highest level since January 2012, data compiled by Bloomberg show. It was the first time the reading surpassed the MSCI Emerging Markets Index since May 2008. The ringgit fell