That news has triggered some selling pressures on glove stocks on Bursa Malaysia. Top Glove Corp Bhd dropped 6.5 sen or 6.44% to 94.5 sen, giving it a market capitalisation of RM7.76 billion. Year-to-date, shares of both glove producers still recorded a gain of 4.4% for Top Glove and 10% for Hartalega due to the rebound in share price in the first quarter. Supermax Corp Bhd lost four sen or 4.44% to 86 sen on Monday, while Kossan Rubber Industries Bhd closed unchanged at RM1.22. Other glove players do practice decommissioning in the previous boom and bust cycle,” he told The Edge.

Source: The Edge Markets May 09, 2023 08:39 UTC