Politic is the art of the possible and the impossible. In May 2018, we achieved the impossible by bringing down a kleptocracy, led by Najib in a peaceful election - a rare feat among Third World nations.
Last Saturday, we jettisoned that government of the people, by the people and for the people for something completely opposite. The new government is led by Muhyiddin - one of the leaders that was sacked by Najib as his corrupted practices under 1MDB began to breakout. This time around, Muhyiddin upended the PH coalition government by forming a pact with numerous parties and individual MPs, including Najib's party, UMNO in order to secure a majority support in the Parliament. Muhyiddin's action proved that the politic of convenience still thumbs politic of principles in Malaysia.
Like many, I feel totally betrayed by the PH politicians, who have squandered the opportunity to give the nation and the people a reset after years of neglect and bad government. When all hopes are lost, and pessimism replaces optimism, the market sentiment will take a turn for the worse.
I expect the market to slide for the next few weeks or even months. Malaysian stock market will be in the wilderness in the medium-term until we have clarity that we are still a nation of law, and we will not return to the same old bad practices & policies of the past. If the GLC funds were to push up the market in the first few hours of trading - to give the market the resemblance of a vote of confidence - you should use that opportunity to reduce your position.
To my fellow Malaysians, do not be despair. The struggle for a better tomorrow for all Malaysians is not an easy feat. For our children's sake, we must continue on with this struggle until victory is ours.
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