* Graphic: World FX rates tmsnrt.rs/2egbfVh * U.S. 10-year Treasury yields up, dollar gains * South Korean shares set for first drop in 7 * Glove makers hit Malaysian shares By Nikhil Nainan Aug 12 (Reuters) - Emerging Asian currencies were flat to lower against a resurgent U.S. dollar on Wednesday, while heavy losses for Malaysian glove makers sent its stock market to a more than one-month low. Often favoured for its safe-haven appeal, the greenback has struggled this year as the U.S. Federal Reserve pumped billions of additional dollars into the financial system and COVID-19 cases surged. That trend has reversed somewhat in the past week and a jump in U.S. Treasury yields overnight, ahead of a record $38 billion bond auction later on Wednesday, gave the currency another boost across the board. In Asia, Indonesia's rupiah was the biggest loser, down 0.4%. "The dollar short-squeeze seems to be ongoing still, and sentiments in Asia are a tad cautious ahead of the U.S.-China trade pact review due around 15 Aug," Maybank analysts said in a note. The mood on stock markets was more gloomy, with Chinese equities down 1.7% following late losses on Wall Street overnight, and Singapore and Taiwan down 0.5% and 0.8%, respectively. China was first to emerge from coronavirus lockdowns and has reported encouraging economic data in the past week, but investors are yet to be convinced the road to recovery is clear. New Zealand, a country seen by many to have successfully contained the outbreak early on, reimposed strict restrictions on Wednesday after a clutch of new cases. Outside China, Kuala Lumpur was the hardest hit market, with shares down almost 1%. Top Glove Corp, the world's largest medical glove maker, and its local rival, Hartalega Holdings, fell around 12% at one point, dragging broader shares to their lowest since July 3. The glove makers have been under pressure over their treatment of migrant workers. Thailand was closed for a public holiday. HIGHLIGHTS: ** Top losers on FTSE Bursa Malaysia Kl Index include Hartalega Holdings down 7.65%, and Top Glove Corp down 5.64% ** Indonesian 3-year benchmark yields up 9.1 basis points to 5.331% Asia stock indexes and currencies at 0336 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY YTD % % Japan -0.17 +1.83 0.17 -3.67 China -0.07 +0.17 -1.74 7.61 India +0.00 -4.53 0.00 -6.95 Indonesia -0.41 -5.45 0.46 -17.23 Malaysia -0.07 -2.55 -0.86 -2.36 Philippines -0.01 +3.49 0.47 -23.46 S.Korea -0.06 -2.52 -0.15 9.89 Singapore -0.10 -2.18 -0.46 -21.42 Taiwan +0.40 +2.36 -0.75 5.73 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Kim Coghill)
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