# Malaysia's Anwar becomes prime minister, ending decades-long wait

> Anwar Ibrahim became Malaysia's prime minister, ending a prolonged political deadlock. The ringgit posted its best day in two weeks and equities rose 3%, as the country faces a slowing economy and political division.

- Date: 2022-11-24 · published 2022-11-24T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38934-malaysia-s-anwar-becomes-prime-minister-ending-decades-long-wait
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Political resolution reduces currency and market risk for Malaysia, a major palm oil producer, supporting ringgit strength that can affect palm oil pricing in dollar terms.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-04-28 | [Malaysia able to meet global demand for palm oil following Indonesia’s export ban, says minister \| Malay Mail](https://feedsoft.ai/events/15831-malaysia-able-to-meet-global-demand-for-palm-oil-following-indonesia-s-export.md) | +8.6% | -1.2% |
| PALMOIL | 2017-01-16 | [Can a deforestation driver become a forest protector? \| Water, Land and Ecosystems](https://feedsoft.ai/events/73005-can-a-deforestation-driver-become-a-forest-protector-water-land-and-ecosystems.md) | 0.0% | -1.7% |
| PALMOIL | 2020-03-09 | [Palm oil players to keep an eye on new ministry’s policy - Focus Malaysia](https://feedsoft.ai/events/54017-palm-oil-players-to-keep-an-eye-on-new-ministry-s-policy-focus-malaysia.md) | -6.5% | -12.1% |
| PALMOIL | 2022-11-16 | [BERNAMA - Malaysia welcomes EU’s Deforestation Regulation, urges extension for implementation](https://feedsoft.ai/events/38695-bernama-malaysia-welcomes-eu-s-deforestation-regulation-urges-extension-for.md) | -0.8% | +0.3% |
| PALMOIL | 2022-11-25 | [New Malaysian PM Anwar vows to heal divided nation, economy \| AP News](https://feedsoft.ai/events/38935-new-malaysian-pm-anwar-vows-to-heal-divided-nation-economy-ap-news.md) | +3.4% | -0.7% |

## Sources

- reuters.com: https://www.reuters.com/world/asia-pacific/malaysias-former-ruling-bloc-may-back-anwar-pm-race-2022-11-24/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.