India, who are last in the standings with four points, will play fifth-placed Pakistan for the fifth place play-off today.
Malaysia scored both their goals through Faizal Saari, while India replied through Mandeep Singh and Rupinder Pal Singh. India were coasting to a 2-1 win when Malaysia earned a last-minute penalty stroke.
Meanwhile, the hosts will now take on Australia, who beat New Zealand 3-2 on Saturday, in the final. In the third match of the day, Pakistan was held to a
2-2 draw by South Korea. The draw took South Korea to a third placing play-off with New Zealand.