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Middle East tensions have weakened Asian currencies against the U.S. dollar and sparked an 8% plunge in South Korea's benchmark index. The ringgit also declined amid domestic political uncertainty following weekend state elections.
Former Iranian President Mahmoud Ahmadinejad has categorically denied a New York Times report claiming Israel's Mossad attempted to recruit him as part of a regime-change operation, describing the allegations as false propaganda.
Malaysia will maintain its BUDI95 petrol subsidy quota at 200 litres per month, with the government waiting to assess the impact of recent US-Iran ceasefire negotiations on global oil prices before reconsidering restoration to the previous 300-litre allowance.
Asian stock markets declined Monday as geopolitical tensions in the Middle East and a more hawkish Federal Reserve stance combined to pressure investor sentiment. Oil prices surged while bond yields climbed as traders adjusted rate expectations.
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Prime Minister Anwar Ibrahim has praised the de-escalation of US-Iran tensions while cautioning that geopolitical turbulence disproportionately affects ordinary citizens in developing economies, highlighting Malaysia's stake in regional stability.