KUALA LUMPUR – Rubber glove counters continued to lose momentum today, as investors offloaded their shares following the rise in Malaysia’s Covid-19 vaccination rate.
At 10.16am, three glove heavyweights – Hartalega, Top Glove and Supermax – remained top laggards among the 30 FTSE Bursa Malaysia KLCI counters.
Hartalega, which is also among the top losers on the broader market, lost 15 sen to RM9.33, Supermax was 14 sen lower at RM4.35 and Top Glove declined 8 sen to RM5.18.
Meanwhile, Kossan shed 4 sen to RM4.11, Careplus shrank 11 sen to RM2.35, Comfort eased 2 sen to RM2.22, and Ruberex was unchanged at RM1.17.
MIDF research head Imran Yassin Md Yusof said with another round of AstraZeneca vaccinations to open for registration tomorrow, investors expect demand for gloves to eventually normalise starting next year.
“However, we should note that this is not definitive, and we may see a rebound in glove stocks should Covid-19 cases continue to rise in the next couple of weeks,” he told Bernama.
Malaysia yesterday reported 61 new deaths – a record high – and 6,509 infections, making for a sixth straight day of cases above the 6,000 mark. – Bernama, May 25, 2021
