A health worker wearing personal protective equipment walks past an alley with a mural illustrating medical frontliners outside Ajwa Clinic in Shah Alam, Malaysia.
Annice Lyn | SOPA Images | LightRocket via Getty Images
SINGAPORE – Shares and currency in Malaysia fell on Tuesday after the king declared a state of emergency that will last until August 1 as the country tightens measures to curb the spread of Covid-19.
Following the announcement, the US-Malaysian ringgit pair peaked at 4,072 – or about 0.54% higher than the previous close. The currency pair has since traded around 4,061, or 0.27% higher than the close on Monday.
Meanwhile, the standard FTSE Bursa Malaysia KLCI index fell by 1.45% from the previous day.
It is not immediately clear what Malaysia’s emergency will entail.
The statement comes after cases of Covid-19 have increased in recent months. Last week, the number of reported daily cases rose above 3,000 for the first time since the outbreak, according to data compiled by Johns Hopkins University.
There are more than 138,200 cumulative cases of Covid-19 in Malaysia, and the country in Southeast Asia has so far reported 555 deaths, according to Hopkins.
Malaysian Prime Minister Muhyiddin Yassin on Monday announced a nationwide ban on travel between countries, as well as a two-week shutdown in several states and territories beginning Wednesday.