Malaysia election: Ringgit falls as high-speed rail, GST among analysts' top uncertainties

Some analysts expect the ringgit to weaken, citing the market's dislike of uncertainties and concerns over the new government's fiscal spending.
Some analysts expect the ringgit to weaken, citing the market's dislike of uncertainties and concerns over the new government's fiscal spending.PHOTO: REUTERS

SINGAPORE - Stocks with Malaysian exposure were hit on the Singapore bourse on Thursday morning (May 10) after the shock election win by the opposition in Malaysia.

As at 11am, Singapore-listed stocks with Malaysian exposure such as Jardine Cycle & Carriage, IHH Healthcare and Hatten Land fell. Jardine C&C was down 81 cents, or 2.4 per cent, to $33.07, IHH Healthcare down five cents, or 2.5 per cent, to $1.98, and Hatten Land down 0.1 cent, or 0.6 per cent, to $0.16. Fraser and Neave bucked the trend with a one cent, or 0.5 per cent, rise to $2.09.

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