Foreign outflows from Malaysia stocks gain momentum

Foreign outflows from Malaysia stocks gain momentum
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KUALA LUMPUR (Nov 16): Foreign selling of Malaysia's stocks accelerated in the past week as the nation's benchmark equity index fell and the Malaysian ringgit strengthened.

The 5-day moving average of net foreign outflows accelerated to $720,000, compared with the 20-day average outflows of $650,000, according to data from Bursa Malaysia Bhd. compiled by Bloomberg.

The FTSE Bursa Malaysia EMAS Index fell 1 percent over the past week and the ringgit gained 1.3 percent against the dollar to 4.1745.