Malaysia Scandal Fuels Fastest Foreign Exodus as Stocks Sink
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International investors are selling Malaysian stocks at the quickest pace in Asia as Prime Minister Najib Razak struggles to contain a political scandal and doubts grow over the outlook for the economy.
Foreign funds have pulled a net 11.7 billion ringgit ($3 billion) of the nation’s shares this year as the benchmark FTSE Bursa Malaysia KLCI Index retreated 4.5 percent. The ringgit has slumped to its weakest since 1998 after tumbling 11 percent against the dollar, the biggest decline among Asian currencies.