Malaysia’s stock market and currency dipped after a national election produced the Southeast Asian nation’s first hung parliament, setting off a scramble to form a coalition before a Monday afternoon deadline.
Kuala Lumpur’s benchmark index fell as much as 1.5 percent.
Malaysia’s national election on Saturday failed to produce a clear winner, with neither the Pakatan Harapan (PH) nor Perikatan Nasional (PN) coalitions securing the required 112 seats to form the government.
Malaysia’s King Sultan Abdullah Sultan Ahmad Shah extended by 24 hours a deadline for legislators to notify the palace of their preferred government, shortly before the original deadline was set to expire at 2 pm.