This is following Umno’s decision of not supporting a unity govt led by Muhyiddin

by ANIS HAZIM / pic TMR File 

GAMING and brewery stocks in Malaysia rallied today after a key bloc signalled it would support Opposition leader Datuk Seri Anwar Ibrahim for prime minister (PM) over ex-PM Tan Sri Muhyiddin Yassin, Bloomberg reported.

On Monday, the stocks slumped as PAS — part of the Perikatan Nasional coalition — garnered the most seats at the 15th General Election (GE15) on Nov 19.

However, the GE15 saw none of the political blocs manage to win a majority, resulting in a hung Parliament.

Meanwhile, Umno said today that the party has decided to support a unity government that is not led by Muhyiddin’s camp.

Following the announcement, resorts and casino operator Genting Bhd is one of the top gainers, with a market capitalisation of RM16.94 billion after its share price rose 3.8% or 16 sen to RM4.37. 

Its subsidiary Genting Malaysia Bhd followed closely behind, with RM15.68 billion market capitalisation after it rose 4.76% or 12 sen to hit RM2.64 a share.

Its peer Sports Toto Bhd recorded RM2.3 billion in market value following a 5.59% or nine sen higher to RM1.70.

Brewers Heineken (M) Bhd also gains 2.49% or 58 sen to RM23.90, giving it a market capitalisation of RM7.22 billion.

Meanwhile, Carlsberg Brewery (M) Bhd grew RM6.92 billion in market value after its share price rose 2.82% or 62 sen higher to RM22.62.