Malaysia's 32.75 million people woke up Tuesday to two weeks of "total lockdown" - with only essential businesses allowed and people told to stay within 10 kilometers of home.
The Kuala Lumpur Stock Exchange was down 0.18% just after lunch local time at 1,580.67 points. Malaysia share prices have fallen about 3% to date this year.
Prime Minister Muhyiddin Yassin said late Monday the government would spend the equivalent of $1.2 billion to offset the economic effects of the restrictions, according to local news reports.
Shops and malls will close but retailers selling "basic necessities" remain open. Hotels can provide pandemic quarantine facilities only. However, unlike an earlier lockdown last year outdoor exercise, such as jogging, is allowed this time.
And, while public worship was banned last year the rules this time allow up to 12 people only to pray at mosques simultaneously.
Muhyiddin had promised there would be no more lockdowns after last year's shutdown contributed to a second quarter gross domestic product contraction of around 17%.
Meanwhile, Malaysian health ministry officials reported 67 virus-related deaths and almost 7000 new cases Monday, according to the Australian Associated Press. Health Minister Adham Baba said on Monday the number of people who had received both vaccine doses had topped 1 million.
The financial aid includes 5 billion ringgit ($1.21 billion) intended to boost health care capacity, increasing cash aid and ensuring business continuity, the prime minister said. Already, economists are predicting a two percentage point loss on a full-year gross domestic product estimate, Bloomberg News reported.
Already, Japan motor-vehicle manufacturers Toyota Motor and Honda Motor have shut production. This has raised concerns that world supply chains will be affected. The government said vehicle and steelmakers would be allowed to continue operating at 10% of staff capacity. Electronics, chemical and pharmaceutical companies will be limited to 60%.
Toyota makes about 50,000 vehicles in Malaysia each year. For Honda, Malaysia is one of its biggest manufacturing countries and turns out 300,000 motorcycles and 100,000 cars and other vehicles a year.
