MALAYSIA's ringgit extended gains and touched a three-month high on Friday following Anwar Ibrahim's appointment as prime minister, which put to rest uncertainty following last week's inconclusive election.
The ringgit, which was up for the third straight session, rose 0.8% against the U.S. dollar to its highest level since Aug. 15.
Stocks in Kuala Lumpur slipped 1.2% after soaring more than 4% in the previous session.
Anwar is expected to start discussions on forming his cabinet on Friday. His appointment ended five days of post-election crisis, but could usher in further instability with his rival, former prime minister Muhyiddin Yassin, challenging him to prove his majority in parliament.
...