The ringgit strengthened to its highest since August 2011 and government bonds rose after Malaysian Prime Minister Najib Razak’s coalition retained power in the weekend poll, bolstering the outlook for economic reforms.
The tiny Persian Gulf nation of Qatar controls vast gas and oil deposits that feed billions of dollars annually into the state Treasury. Its petroleum riches make it the wealthiest nation per capita in the world, according to the International Monetary Fund.
A flood of money out of Malaysia should reverse, easing inflows into Thailand, Eastspring Investments and Societe Generale SA said, as Prime Minister Najib Razak looks set to remain in power after elections.
Malaysia’s ringgit fell to a six- month low after Chinese industrial production and retail sales trailed economists’ estimates, damping the Southeast Asian nation’s export outlook. Government bonds advanced.