Researchers say the post-election crisis and latest political developments are not helping the economy or market sentiments. – The Malaysian Insight file pic, November 23, 2022.
Pakatan Harapan won 82 seats and Perikatan Nasional , 73 seats. Both coalitions need to form alliances with other coalitions to set up a new government. PN chairman Muhyiddin Yassin, who also had an audience with the king, later told reporters that they will not work with PH. International Islamic University Malaysia’s Tunku Mohar Tunku Mohd Mokhtar said economic uncertainty is projected to continue until a government is formed.
“The local financial market will respond to the political situation once it becomes clearer. It would rather wait until there’s an assurance that the government that is formed is friendly to the market, with stable policies that are conducive to economic growth.”On Monday, the ringgit fell almost 0.8% against the US dollar in early trading before recovering slightly yesterday, as markets weighed the possibility of an extended period of political instability.