A person sporting a facemask as a safety towards Covid-19 walks previous two Malaysian flags in capital metropolis Kuala Lumpur.
Faris Hadziq | SOPA Pictures | LightRocket through Getty Pictures
Shares in Malaysia fell Monday commerce as the federal government introduced a nationwide “whole lockdown” to curb the quickly rising every day Covid-19 infections within the nation.
The benchmark FTSE Bursa Malaysia KLCI Index fell round 1.5% on the open earlier than closing the session 0.7% decrease — underperforming many Asia-Pacific markets.
Malaysia has been struggling to manage a surge in Covid infections. Final week, the nation reported five-consecutive days of file will increase in coronavirus circumstances, taking cumulative infections to greater than 565,500 circumstances with 2,729 deaths as of Sunday, well being ministry information confirmed.
Prime Minister Muhyiddin Yassin introduced Friday after market shut that the nation will enter a two-week lockdown beginning Tuesday.
In the course of the interval, people are typically solely allowed to depart their properties to purchase important gadgets or search medical providers. For corporations, these providing important providers will stay open whereas sure segments of the manufacturing sectors can function with a decreased capability.
Brian Tan, an economist at Barclays Financial institution in Singapore, estimated that the measures will price the Malaysian economic system between 0.5 to 1 proportion level each two weeks.
Tan wrote in a Monday be aware that he has lowered Malaysia’s 2021 progress forecast from 6.5% to five.5% — under the central financial institution’s projection vary of 6% to 7.5%.