BLOGGING FROM PARLIAMENT
UPDATES, 15:33hr March 12: NAJIB REFUSED TO TAKE FROM THE FLOOR QUESTIONS ON THE RM60 BILLION QUESTION, AND RUSHED THE WRAP-UP IN AN EXPRESSIONLESS EXIT.MALAYSIA'S FISCAL RISK IS LOCKED IN 58 MINUTES.
ORIGINAL POSTING
Starting 2.35pm, Finance Minister cum PM-in-waiting Najib Razak took the floor to wrap-up the policy-level debates on the Supplementary Supply Bill (2009), or the mini budget.
He seemed to read very cautiously from a prepared speech. That he refused to take on interjecting questions from the MPs and speak off-text, apart from being mindful of time, indicated that he hadn't yet a sound handle on economic strategies.
Meanwhile, the KL Composite Index (KLCI) on Bursa Malaysia dropped a further 13.17 points as at 2.46pm, a while ago. Trading volume was thinner than yesterday's.
UPDATES, 18:00hr March 12: By the end of trading day, KLCI dropped 11.98 points to close at 838.39. Losers led gainers 520 by 170. Volume was thinner than yesterday's at 3,521,799 lots. Major losers were from banking sector, particularly Public Bank and Maybank.In fact, Maybank has seen RM6.54 billion wiped out from its market capitalisation in the past 11 straight days of losses after announcing its rights issue. Its share price fell from RM5.40 on Feb 24 and it closed 28 sen down to RM4.06 today.
KLCI dropped 4.88 points to close at 850.57 yesterday.
Big Question: How confident is Malaysia with Najib as the new Prime Minister, perched at the tail end of the RAHMAN theory?
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