Ringgit declines with stocks and bonds as China slows further

Malaysia's ringgit slid along with stocks and bonds as a measure of factory output in China added to signs Asia's largest economy is slowing, spurring demand for the relative safety of the dollar.

 

Emerging-market assets have been under pressure since the Federal Reserve cited China concerns as a reason for refraining from raising interest rates last week. A measure of the Asian nation's manufacturing fell to six-year low, according to a preliminary Purchasing Managers' Index released Wednesday. 

That further dimmed the outlook for Malaysia's biggest trading partner, just as new probes into state investment company 1Malaysia Development Bhd. and the prime minister are once again hurting the ringgit.