Glove stocks dominate Bursa’s gainers list after spike in Covid-19 cases

KUALA LUMPUR (Oct 2): Rubber glove manufacturers dominated Bursa Malaysia’s top gainers list at the noon market break.

Hartalega Holdings Bhd's share price increased the most, rising 4.43% or 72 sen to RM16.98, translating to a market capitalisation of RM58.2 billion. The counter saw a trading volume of 2.18 million shares and was the top gainer on the local bourse.

In second place was Kossan Rubber Industries Bhd, which was up by 3.11% or 42 sen at RM13.92, valuing it at some RM17.80 billion.

Meanwhile, Supermax Corp Bhd, which was the fifth top gainer this morning, rose 3.56% or 30 sen to RM8.72, translating to a market value of RM23.72 billion. It saw 15.56 million shares traded.

Comfort Gloves Bhd, which was the seventh highest gainer in the first half of the trading day, rose 4.89% or 18 sen to RM3.86, yielding a market capitalisation of RM2.25 billion. It saw 13.5 million shares traded.

Top Glove Corp Bhd was the ninth highest gainer at the end of the morning trading session. It was up by 2.14% or 18 sen at RM8.61, resulting in a market value of RM70.74 billion. It saw 19.01 million shares traded.

Careplus Group Bhd was the 10th top gainer on Bursa Malaysia, finishing the morning trading session 5.61% or 17 sen higher at RM3.20, valuing it at some RM1.73 billion. It saw 40.72 million shares traded, making it the ninth-most actively traded stock on the local stock exchange today.

Also of note was Rubberex Corp (M) Bhd. It was the 12th top gainer, following a 2.92% or 16 sen gain at RM5.64, resulting in its market capitalisation standing at RM1.57 billion. It saw 1.26 million shares changed hands.

The performance of rubber glove stocks today comes after the second highest number of new Covid-19 cases in Malaysia since the onset of the pandemic in January was reported yesterday, with the country registering 260 new cases. The highest number so far had been 277 new cases on June 4.