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Large profit but soft prices


declined by 1.56% to 3.27%.
Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said investors are taking the view that global glove production capacities ramping up, including in China, would mean supply would be greater than the increase in demand in the coming years.
“Glove ASPs are trending lower. With Covid-19 vaccinations ramping up and some countries saying they will learn to live with the virus, the super profits of glove makers are seen as unlikely to continue,” Lau told StarBiz.
Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said investors are taking the view that global glove production capacities ramping up, including in China, would mean supply would be greater than the increase in demand in the coming years. ....

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Bursa Malaysia likely to move range-bound between 1,500 and 1,530 this week


KUALA LUMPUR, July 18 (Bernama): The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is anticipated to trade range-bound next week between 1,500 and 1,530 on continuation of rotational play due to lack of clear catalyst.
Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said the market would likely see more bargain hunting as it almost touched the support level of 1,500 during the week.
Due to the current level at 1,522.48 on Friday, I think the market have found its bottom level, and buying interest is likely to emerge where investors will buy on weakness after profit-taking.
Besides that, markets will be on the lookout for two upcoming listings by CTOS Digital Bhd on the Main Market on July 19 and Haily Group Bhd (July 21) on the Ace Market,” he told Bernama. ....

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