KUALA LUMPUR (Jan 14): Shares in printed circuit boards manufacturer PNE PCB Bhd fell as much as 17.46% to its intraday low of 52 sen in early trade today, in tandem with the negative performance across glove counters after JP Morgan issued a report saying that demand for gloves will likely continue to ease.
The stock was the most active counter on Bursa Malaysia this morning, with 190.75 million shares traded — 41 times higher compared to its 200-day average trading volume of 4.62 million shares.
JP Morgan, which had initiated coverage on the Malaysian rubber glove sector with a "sell" call last month, told investors that gloves are “not needed” while administering vaccinations.