arenaz09 ... I think that's the reason LKL did not rise as everyone had expected. I wonder whether the major shareholders will keep selling, because if they keep doing so, there's little hope the price will rise to what we expect.
why AT increase BUT OTHER DROP WHILE BOTH HAVING SYMBIOTIC RELATIOSHIP ...WHY MADAM SELL BEFORE ANNOUNCING should have sold after announce ...SOMETHING IS BREWING
remember ..opening factories is not big deal but getting the raw material is a very big deal ...now it like riding the way who go in early ok. going in late is a chnace to get burnt
Glove stocks down, not part of Pfizer vaccine party KUALA LUMPUR (Nov 10): While the world is celebrating Pfizer’s overnight announcement of a viable Covid-19 vaccine candidate, rubber glove stocks may not be part of the party.
Glove counters top the loser list after the morning bell today. As at 10.20am, shares in rubber glove counters were among the top losers on Bursa Malaysia. Hartalega Holdings Bhd slid by 8.54% or RM1.54 to RM16.60, making it the top value loser on Bursa, followed by Supermax Corp Bhd, down 75 sen or 7.79% to RM8.88. In the third place was Kossan Rubber Industries Bhd, which released a strong set of quarterly earnings yesterday, dropping 63 sen or 8.27% to RM6.88, valuing it at RM17.59 billion. Top Glove Corp Bhd took the fifth place, falling 54 sen or 6.37% to RM7.94.
The smaller players were not spared from the selling pressure. Comfort Gloves Bhd fell 31 sen or 6.97% to RM4.14, Careplus Group Bhd shed 27 sen or 7.8% to RM3.19, and Rubberex Corp (M) Bhd lost 16 sen or 6.45% to RM2.32.
The Healthcare Index was dragged down by the glove stocks, declining by 1.78% or 73.47 points to 4,048.89. Still, while there was a selldown across the rubber glove stocks, shares in companies tapped by the government to bottle and distribute a potential Covid-19 vaccine were rising.
In a note this morning, AmInvestment Bank Research reiterated its view that the market will continue to shift to predominantly pandemic-themed plays to a recovery-focused theme in December.
“We have been advocating for investors to lighten their positions in the 'pandemic play', i.e. glove stocks, and replace them with the 'recovery play'.
“With the latest positive news coming in a rather abrupt manner, we expect volatility as investors of glove stocks rush to the exit at the same time. The two FBM KLCI-weighted glove stocks, i.e. Top Glove and Hartalega, command a combined weighting of 13% to 14%,” AmInvestment Bank wrote in the strategy note.
Having downgraded the glove sector to "neutral" on Aug 25, 2020 from "overweight" on positive news of a vaccine, AmInvestment Bank was putting fair values (FVs) for glove stocks under its coverage under review with negative bias. Still, it expects gains linked to recovery plays to be significantly offset by losses seen in pandemic plays, resulting in it maintaining its end-2020 KLCI target of 1,530 points despite the overwhelming good news. To recap, Pfizer and its German partner BioNTech announced last night that their experimental Covid-19 vaccine was more than 90% effective with no serious safety concerns based on initial trial results, estimating that they can roll out up to 50 million doses this year for 25 million people and produce 1.3 billion doses in 2021.
Glove era end last night. German vaccine is anytime approved to distribute already. Run from LKL . Profit is so little and yet u want it to fly higher. Aya .
dude..LKL not just only distribute gloves.....please don keep spread inaccurate,improper,insufficient,unethical information.... is whole malaysia left AT only?
sorry all, angry to see this kind of people.....let me angry and fight this kind of people 1 time
Why u so angry..rationale abit.. glove worldwide shortage now.. LKL got contract to distribute to China.. who willing to let u cut queue to buy big bulk and distribute with profit to China? If cant supply in time, ma breach contract?
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
yuyu82
87 posts
Posted by yuyu82 > 2020-11-09 14:19 | Report Abuse
stupid LKL............cut lost and go for other counter