KLCI drops almost 27 points at today’s opening amid rumours of new coalition government
KUALA LUMPUR, Feb 24 —The FBM KLCI dropped 26.48 points this morning, opening at 1,501.47 points.
At the time of writing, the KLCI had shifted up slightly to 1,503.59 points, still off by 27.61 points, representing a drop of 1.65 per cent from its highest posting at 1,508.28 points.
This is in the wake of political uncertainty gripping the nation following a spate of unexpected and emergency meetings by various political parties yesterday, all said to be part of a plan to form a new coalition government, effectively ending the existence of ruling coalition Pakatan Harapan (PH).
Separate meetings by Parti Pribumi Bersatu Malaysia (PPBM), Umno, PAS, Gabungan Parti Sarawak Parti Warisan Sabah and the PKR faction aligned to Datuk Seri Azmin Ali took place yesterday, with the day concluding at the Sheraton Hotel in Petaling Jaya where most of the leaders from the various parties attended a private dinner.
Leaders from these parties were also granted an audience with the Yang DiPertuan Agong yesterday, presumably to seek his consent over the formation of a new government coalition.
Despite all the rumours, no politician has come out to deny the possible rehash of the government’s coalition.
It was suggested that the new coalition had come after a heated PH presidential council meeting on Friday, where Prime Minister Tun Dr Mahathir Mohamad’s PPBM threatened to quit the coalition if coalition colleagues continued to push for the transition of power to Anwar sooner rather than later.
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