Gaming, brewery stocks rally as Malaysia's political impasse ends

Gaming, brewery stocks rally as Malaysia's political impasse ends
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KUALA LUMPUR (Nov 24): Gaming and brewery stocks emerged to be the most in demand in afternoon trading on Thursday (Nov 24), after a bruising sell-off in the last couple of days, as Malaysia's political stalemate ended with the announcement of Datuk Seri Anwar Ibrahim as the 10th prime minister.

At the time of writing, Heineken Malaysia Bhd was RM1.24 or 5.32% higher at RM24.56. It was the second top gainer of the day. Carlsberg Brewery Malaysia Bhd, the third top gainer, gained 86 sen or 3.91% to RM22.86.

Shares in Magnum Bhd were up 13 sen or 10.08% at RM1.42 each, while Sports Toto Bhd gained eight sen or 5% to RM1.69.

Gaming company Genting Bhd gained 28 sen or 6.65% to RM4.49 a share, while Genting Malaysia Bhd shares were up 22 sen or 8.73% at RM2.74 each.

All these companies took a beating in the last three days of trading, with a combined market value of RM3.38 billion wiped off, as the fear of a possible conservative government weighed heavily on investors.

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Kang Siew Li