May 14, 2018 / 1:48 AM / a year ago

Malaysia stocks with ties to previous administration fall on first-day trading

KUALA LUMPUR, May 14 (Reuters) - Some companies with ties to the leadership of Malaysia’s recently ousted Barisan Nasional coalition government fell at the market open on Monday, the first day of trading since the nation saw a historic change in administration.

Telecommunications company Axiata Group Bhd fell 8.5 pct, while CIMB Group Holdings Bhd dropped 12 percent.

Air Asia Group Bhd fell 10 percent in first trade.

In contrast, PPB Group Bhd, controlled by billionaire Robert Kuok, rose 8.3 percent. Kuok was appointed as an adviser to the new administration. (Reporting by Liz Lee; Editing by Sam Holmes)

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