NEW YORK, May 10 (Reuters) - An exchange-traded fund that tracks Malaysian stocks rose on Thursday, reversing some of the previous day’s losses tied to worries about the economic policies of the opposition alliance led by former prime minister Mahathir Mohamad.
The Mahathir-led alliance, Pakatan Harapan (PH), scored an upset victory over the ruling Barisan Nasional (BN) coalition.
If Mahathir’s coalition takes over the government, investors have to grapple with the impact of the PH’s pledges to abolish a goods and services tax, restore a petrol subsidy, increase minimum wages and review infrastructure projects.
At 9:38 a.m. (1338 GMT), the price of iShares Malaysia MSCI ETF was up 2.0 percent at $33.11 a share after a 6 percent drop on heavy volume on Wednesday. (Reporting by Richard Leong Editing by Chizu Nomiyama)