(Bloomberg) Malaysian stocks dropped and the ringgit weakened after the government imposed a two-week nationwide lockdown to curb a relentless surge in Covid-19 infections.The FTSE Bursa Malaysia KLCI Index fell as much as 1.6% on Monday, before paring losses to 0.7% at the close in Kuala Lumpur. The ringgit slid as much as 0.4% to 4.1480 per dollar, while 10-year bond yields rose three basis points to 3.25%. The government said on Friday that most businesses will be shut from June 1 except for essential economic and service sectors.“The government is finally biting the bullet,” said Alexander Chia, an analyst at RHB Investment Bank Bhd. “Clearly, there are downside risks to FY21 earnings growth, even if it is essentially a postponement of growth to FY22.”Malaysia’s return to a hard lockdown comes in the wake of record daily infections that saw cases top 9,000 on Saturday. A resurgence in virus outbreaks in Asia has spurred some countries including
KUALA LUMPUR, May 31 Malaysian glove maker Supermax Corp on Monday said it adhered to labour laws on treatment of migrant workers, after a report that the United States was investigating a unit over forced labour allegations. On Saturday, the Edge Weekly said US Customs and Border Protection.
KUALA LUMPUR (Reuters) - Malaysian glove maker Supermax Corp on Monday said it adhered to labour laws on treatment of migrant workers, after a report .