(Nov 23): Donald Trump's election as US president is driving global markets to levels not seen in nearly two decades — but in completely different directions. And the "polarisation'" of emerging and developed markets is all part of "Trump reflation,'' argues Divya Devesh, a foreign-exchange strategist at Standard Chartered in Singapore.

In the post-Trump era, emerging markets have been feeling the heat. Malaysia's ringgit plunged on Tuesday to be less than 1% from the 4.48 per dollar it reached in September of last year, the weakest level since the Asian financial crisis in the late 1990s. Sentiment is little different in the country's equities market, where investors sold 1.1 billion ringgit ($354 million) of shares through Friday in the biggest weekly exodus since June.

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