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Full Version: Increase in PAS seats lead to alcohol, gambling stocks plunge
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Bloomberg
Mon, Nov 21, 2022 • 02:42 PM GMT+08 • 11 minutes ago


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Shares of casino and resort operator Genting Malaysia Bhd. plunged as much as 11%, the most in more than two years, amid a broader selloff in the country’s equities. Its parent Genting Bhd. dropped as much as 10% while lottery equipment provider Sports Toto Bhd. was set for its lowest level since 1993. Brewers including Heineken Malaysia Bhd. and Carlsberg Brewery Malaysia Bhd. also declined.

The electorate gains by Parti Islam Se-Malaysia, or PAS, could dent investor confidence as the party has previously called for the implementation of hardline Shariah law in the country.


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