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Malaysian opposition wins stunning election victory

Manan Vatsyayana/AFP/Getty Images

The opposition has won a majority in Malaysia's elections, meaning power will change hands for the first time in six decades in the southeast Asian country.

The backdrop: The opposition coalition was led by Mahathir Mohamad, a 92-year-old former prime minister and mentor-turned-critic of current prime minister Najib Razak, who had attempted to gerrymander his way to victory despite a major financial scandal. Mahathir has declared two days of national holidays, and says he hopes to be sworn in on Thursday.