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Glove shares climb amid unknown investors' call to take on short sellers, but retreat from peak at noon break


KUALA LUMPUR (Jan 29): Glove counters were in high demand today, pushing share prices sharply higher thanks to the calls made by some unknown investors over social media to take on the short sellers. However, the buying spree lost some steam in the mid morning, with all retreating from their peaks.
Seven of the glove stocks listed on Bursa Malaysia gapped up after the opening bell, starting the trading day at prices higher than Wednesday s closing.
Top Glove Corp Bhd, which has been the main target of short sellers, opened at RM7.05 versus the previous closing of RM6.21 on Wednesday. The share price of the world s largest rubber glove maker soared to a high of RM7.12. There were 96.97 million shares changing hands in the morning session, making it the fourth most actively traded stock on Bursa Malaysia. ....

Kuala Lumpur , South Korea , Top Glove Corp Bhd , Rubberex Corpm Bhd , Over At Kossan Rubber Industries Bhd , Asset Management Co , Careplus Group Bhd , Hartalega Holdings Bhd , Supermax Corp Bhd , Bursa Malaysia , Glove Corp Bhd , Top Glove , Kossan Rubber Industries Bhd , Corp Bhd , Rubberex Corp , Comfort Gloves Bhd , Careplus Group , Wall Street , குவாலா லம்பூர் , தெற்கு கொரியா , மேல் கையுறை கார்ப் ப்ட் , சொத்து மேலாண்மை இணை , கவனக்குறைவு குழு ப்ட் , சூப்பர்மேக்ஸ் கார்ப் ப்ட் , கையுறை கார்ப் ப்ட் , மேல் கையுறை ,

Shed some tears for gloves


IT has been the best year for the equities market since 2013. The fairy tale run on the glove sector anchored the euphoric run of Bursa Malaysia that is on track for a strong finish compared to 2019.
IT has been the best year for the equities market since 2013. The fairy tale run on the glove sector anchored the euphoric run of Bursa Malaysia that is on track for a strong finish compared to 2019.
It was just the enigma corporate Malaysia needed as the country was reeling under the Covid-19 pandemic and political uncertainty.
The wealth created from the run of glove companies is enormous. From glove producers to chemical suppliers and equipment providers – they all benefited and recorded extraordinary profits. ....

Careplus Group Bhd , Jp Morgan , Top Glove Corp Bhd , Kossan Rubber Industries Bhd , Rubberex Corp Bhd , Supermax Corp Bhd , Bursa Malaysia , Top Glove Corp , Supermax Corp , Kossan Rubber Industries , Careplus Group , கவனக்குறைவு குழு ப்ட் , ஜ்ப் மோர்கன் , மேல் கையுறை கார்ப் ப்ட் , சூப்பர்மேக்ஸ் கார்ப் ப்ட் , மேல் கையுறை கார்ப் , சூப்பர்மேக்ஸ் கார்ப் , கவனக்குறைவு குழு ,

Quick take: Vaccine roll out, downgrade send glove makers down


Comfort Gloves fell 4.53%, or 16 sen to RM3.37 while Careplus Group
shed 5.45%, or 14 sen to RM2.43.
The U.S. Food and Drug Administration authorised the vaccine from Pfizer and German partner BioNTech SE on Friday.
Meanwhile, JP Morgan Asia Pacific Equity Research said as the world draws closer to Covid-19 vaccine availability, it expects glove prices to weaken in 2H21.
“Near-term concerns on rising costs, plus long-term overcapacity risk, spell downside risks.
“We initiate coverage of Top Glove (RM3.50), Hartalega (PT RM8.50) and Kossan Rubber
(PT RM3.80) with underweight ratings, ” it said.
As for Top Glove, the world’s largest rubber glove manufacturer, JP Morgan said aggressive Covid-19 testing in developed nations has accelerated demand for gloves, causing supply tightness. ....

Kuala Lumpur , Muhyiddin Yassin , Jp Morgan , Drug Administration , Careplus Group , Jp Morgan Asia Pacific Equity Research , Top Glove , Asia Pacific Equity Research , Prime Minister Tan Sri Muhyiddin Yassin , குவாலா லம்பூர் , ஜ்ப் மோர்கன் , கவனக்குறைவு குழு , ஜ்ப் மோர்கன் ஆசியா பெஸிஃபிக் பங்கு ஆராய்ச்சி , மேல் கையுறை , ஆசியா பெஸிஃபிக் பங்கு ஆராய்ச்சி ,