# Malaysia stocks, ringgit slide as Anwar signals push to oust PM | Financial Post

> The ringgit fell to a near two-week low after opposition leader Anwar Ibrahim claimed he had a majority in parliament to oust Prime Minister Muhyiddin Yassin. Regional currencies and stocks also weakened amid a stronger dollar and coronavirus concerns.

- Date: 2020-09-23 · published 2020-09-23T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/51356-malaysia-stocks-ringgit-slide-as-anwar-signals-push-to-oust-pm-financial-post
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Political uncertainty weakens the ringgit, which makes Malaysian purchases of dollar-priced palm oil and other feed inputs more expensive locally. The effect is short-term and political rather than supply-driven.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-11-25 | [Malaysian ringgit extends gains on hopes of stability after PM appointment \| Financial Post](https://feedsoft.ai/events/38932-malaysian-ringgit-extends-gains-on-hopes-of-stability-after-pm-appointment.md) | +3.4% | -0.7% |
| PALMOIL | 2024-09-30 | [Malaysia ringgit gains most among Asian FX, Chinese stocks soar - Markets - Business Recorder](https://feedsoft.ai/events/28585-malaysia-ringgit-gains-most-among-asian-fx-chinese-stocks-soar-markets-business.md) | +9.1% | +9.7% |
| PALMOIL | 2018-08-03 | [Malaysia: Wider external surplus is positive for ringgit \| articles \| ING THINK](https://feedsoft.ai/events/63776-malaysia-wider-external-surplus-is-positive-for-ringgit-articles-ing-think.md) | +2.0% | +0.9% |
| PALMOIL | 2020-10-28 | [EMERGING MARKETS-Malaysian shares slip on political woes as trade data supports ringgit](https://feedsoft.ai/events/50890-emerging-markets-malaysian-shares-slip-on-political-woes-as-trade-data-supports.md) | +3.6% | +12.6% |
| PALMOIL | 2024-08-02 | [Ringgit on Best Run in 14 Years as Malaysia’s Outlook Brightens](https://feedsoft.ai/events/29078-ringgit-on-best-run-in-14-years-as-malaysia-s-outlook-brightens.md) | -2.0% | +1.6% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/malaysia-stocks-ringgit-slide-as-anwar-signals-push-to-oust-pm

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