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www.reuters.com: EMERGING MARKETS-Dollar bounce hits Asian FX, glove makers pull Malaysia stocks lower

Read Full Article Here: https://www.reuters.com/article/emerging-markets-asia/emerging-markets-dollar-bounce-hits-asian-fx-glove-makers-pull-malaysia-stocks-lower-idUSL4N2FE1UA

The overall mood on stock markets was downbeat, with Chinese equities down around 1% after data showed a slowdown in money supply and bank lending growth, clouding encouraging signals in the past week.

“July’s money and credit data were all below expectations,” Goldman Sachs analysts said in a client note.

After China, Malaysia was among the hardest hit markets on the day with shares down 0.6%.

Malaysia’s Top Glove Corp, the world’s largest medical glove maker, and its local rival, Hartalega Holdings, fell around 8.9% and 7.5%, respectively, dragging the benchmark lower.

The glove makers, who have enjoyed a surge in demand during the coronavirus crisis, have been under pressure of late over their treatment of migrant workers.

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