Top Glove plunges from its perch

Lower rating: A worker inspects disposable gloves at Top Glove’s factory in Shah Alam. Macquarie Research has lowered its rating on the world’s largest glovemaker to ‘underperform’ from ‘outperform’ previously. — AFP

PETALING JAYA: A downgrade by Macquarie Research saw Top Glove Corp Bhd’s shares take a huge beating, with its shares falling by 70 sen, or 9.8%, to RM6.45 yesterday.

The brokerage lowered its rating on the world’s largest glovemaker to “underperform” from “outperform” previously.