Malaysia's stock index falls sharply ahead of election announcement

KUALA LUMPUR, April 3 Tue Apr 2, 2013 10:40pm EDT

KUALA LUMPUR, April 3 (Reuters) - Malaysia's main stock index fell as low as 3.4 percent ahead of a televised announcement by Prime Minister Najib Razak at 11.30 a.m (0330 GMT) on Wednesday, when he is expected to dissolve parliament and call a general election.

National carrier Malaysian Airline System Bhd fell as much as 6.3 percent to 0.72 ringgit, while palm oil firm Felda Global Ventures Bhd sunk 8 percent to a two-month low of 4.35 ringgit.

By 10:38 a.m, the main index had recovered ground to trade 1.97 percent lower at 1,651.81.

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