KUALA LUMPUR (Aug 3): Glove counters, including the smaller players, dominated the list of gainers with seven of them rallying to new all-time highs today, against the negative sentiment seen in the broader market, as several countries extended their restrictions due to surging Covid-19 cases.
The FBM KLCI was in negative territory throughout the norning session today, and closed 0.94% or 15.09 points lower at 1,588.66 at the noon market break.
The benchmark index was traded between 1,587.68 and 1,599.34 today against its closing at 1,603.75 last Thursday. The market breadth was negative as the number of declining stocks outnumbered advancers by 445 to 305.
The smaller glove counters, namely Careplus Group Bhd, Comfort Gloves Bhd, and Rubberex Corp (M) Bhd, also finished at their all-time highs at the noon break.
Careplus was the second top gainer on the local bourse this morning, spiking as much as RM1.04 or 28.49% to RM4.69 before paring gains to RM4.67. The stock saw some 91.76 million shares traded.
Rubberex jumped as much as 89 sen or 17.02% to RM6.12. It also pared gains to RM6.09 at the noon break, placing it as the fifth top gainer on Bursa Malaysia. Some 16.47 million shares were transacted.
Meanwhile, Comfort Gloves also gained as much as 16.01% or 86 sen to RM6.23, before paring gains to RM6.22. Some 29.33 million shares were traded.
Among the glove-making behemoths, Top Glove Corp Bhd rose as much as 3.79% or 98 sen to RM26.86 before paring gains to RM25.88, bringing it a market capitalisation of RM72.07 billion. It was the sixth top gainer on Bursa this morning. The counter also saw some 9.68 million shares exchange hands.
Hartalega Holdings Bhd rose as much as 88 sen or 4.34% to RM21.16 before paring gains to RM20.88, placing it as the 10th top gainer on Bursa and valuing it at RM71.57 billion, after some 8.17 million shares were traded.
Supermax Corp Bhd rose as much as RM1 or 5.41% to RM19.50 earlier today before paring gains to RM19.34 at the noon break, valuing it at RM24.95 billion. The counter saw about 11.71 million shares exchange hands. It was the fourth top gainer on Bursa.
Meanwhile, Kossan Rubber Industries Bhd climbed as much as 66 sen or 3.75% to RM18.26 earlier before paring gains and closing 50 sen or 2.84% higher at RM18.10, bringing it a market capitalisation of RM23.1 billion. The counter saw about 3.62 million shares done.
http://www.theedgemarkets.com/article/seven-glove-stocks-soar-new-alltime-highs-nations-extend-restrictions-surging-covid19-cases
