The Trader 

Market Outlook: Malaysia’s PM Mahatir sends his resignation letter

The Trader

Today in a letter to the king, Malaysia’s Prime Minister Mohamad Mahatir (94) submitted his letter of resignation. Reuters reports that the ruling coalition was in talks to form a new government that would not include the PM’s chosen successor Anwar Ibrahim. This, and the spread of the Covid-19 virus, sent the Malaysian ringgit down 0.7 per cent so far today, its sharpest drop in 3 years, and the Kuala Lumpur main stock index to a 10-year low.

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