Malaysia’s Anwar, Muhyiddin rush to meet deadline to form government

Malaysia’s opposition leader, Anwar Ibrahim, and former premier Muhyiddin Yassin were vying to break a deadlock in forming a government on Tuesday, three days after an election resulted in a hung parliament.
King Al-Sultan Abdullah has given political parties until 2 p.m. (0600 GMT) on Tuesday to put together alliances needed for a majority.
The election and the ensuing turmoil prolongs political instability in the multiracial Southeast Asian nation, which has had three prime ministers in as many years, and risks delays to policy decisions needed to galvanise an economic recovery.
The uncertainty hit the Kuala Lumpur stock market, which fell for a second day on Tuesday. Significant election gains by an Islamist party also added to investors’ fears, notably over policies on gambling and alcohol consumption.
Anwar’s coalition entered negotiations with Barisan Nasional, the incumbent coalition and Anwar’s longtime rival, on Monday to discuss a potential alliance.