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Malaysia in transition

Mixed fate greets Malaysian companies after historic election

Loss of pro-China leader hurts AirAsia, infrastructure stocks

Trading boards at a private stock market gallery in Kuala Lumpur, Malaysia   © Reuters

TOKYO -- Malaysia woke up to uncertain financial markets on Monday, as trade started for the first time since the stunning victory of the opposition alliance led by 92-year-old former Prime Minister Mahathir Mohamad last Wednesday.

The benchmark KLCI index slipped nearly 3% before erasing losses and edging higher to close at 1850.42, up 0.2%. The Malaysian currency ringgit also fell by 0.7% against the U.S. dollar before paring losses, partly on worries over the country's deteriorating fiscal balance.

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