Malaysia's Top Glove shares tumble after govt says factories to be shut

Shares in Malaysia's Top Glove fell as much as 7.5% in early trade on Tuesday, after the government said some of its factories would be closed in stages for COVID-19 screening and quarantine after more than 2,000 of its workers tested positive. The Health Ministry reported a sharp rise in cases in the area where Top Glove factories and dormitories are located, with 2,453 workers testing positive for the virus, out of 5,767 screened.

The government said 28 factory buildings will be shut in phases but did not specify when the shutdowns would begin.