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Malaysian Front regrouping after poll setback

11 mars 2008, 00:00

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Malaysia?s ruling coalition tried to regroup yesterday after a shocking electoral set-back that decimated its ranks and sent markets swooning over the political uncertainties ahead. Prime Minister Abdullah Ahmad Badawi was sworn into office amid mounting calls for his resignation after the National Front (Barisan Nasional) lost the two-thirds majority in parliament it had held for nearly four decades. Malaysian stocks dived their limit 10 % in mid-afternoon yesterday and the ringgit skidded as investors sold off infrastructure stocks and shares linked to the federal government or its favoured tycoons.

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