Glove stocks among Bursa's top active counters as most rebound
KUALA LUMPUR (Aug 16): The big four glove counters, namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Kossan Rubber Industries Bhd and Supermax Holdings Bhd were among Bursa Malaysia’s most active counters on Tuesday (Aug 16).
All except Hartalega, which topped the actives list but slumped for the fifth straight session, saw their share prices climb.
When contacted, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the share price climb is a technical rebound as glove stocks have been oversold.
But Thong expects the rebound to be short-lived as glove makers are still bracing for industry-wide headwinds caused by an acute oversupply and margin compression due to falling selling prices.
Hartalega fell nine sen or 4.84% to RM1.77 on Tuesday — its lowest in about six years since September 2016 — after some 197.09 million shares were transacted, giving it a market capitalisation of RM6.17 billion. It has lost RM1.03 or 37% since last Tuesday (Aug 9), when it closed at RM2.80. Year to date (YTD), Hartalega has fallen 69% from its closing price of RM5.73 at end-December last year.
Top Glove, the second most actively traded stock of the day that saw 143.96 million shares done, snapped its seven-day losing streak to close four sen or 5.03% higher at 83.5 sen, giving it a market value of RM6.94 billion. But YTD, Top Glove has lost 68% from its end-2021 closing price of RM2.59.
Similarly, Kossan and Supermax rebounded. Kossan climbed 2.5 sen or 2.54% to settle at RM1.01, for a market capitalisation of RM2.58 billion, after 53.26 million shares were traded. It was the fifth most actively traded counter of the day.
Supermax, which was the 21st most actively traded stock, climbed two sen or 2.65% higher to settle at 77.5 sen for a market capitalisation of RM2.1 billion. It saw 20.98 million shares traded.
YTD, Kossan has dropped 47% from when it was trading at RM1.92, while Supermax has lost 90% from RM1.47.
Their smaller counterparts also gained.
Rubberex Corp Bhd rose 0.5 sen or 1.08% to settle at 47 sen, for a market capitalisation of RM430 million, while Comfort Gloves Bhd ended the session 0.5 sen or 1.04% higher at 48.5 sen, bringing its market value of RM283 million. Careplus Group Bhd closed one sen or 2.82% higher at 36.5 sen, valuing it at RM209 million.
http://www.theedgemarkets.com/article/glove-stocks-among-bursas-top-active-counters-most-rebound
Singapore Investment
-
-
-
-
-
-
-
-
-
X moves HQ from California to Texas14 hours ago
-
-
-
-
Lentor Hills Residences18 hours ago
-
-
-
Straits Times Index at 17-Year High23 hours ago
-
-
DBS Group – A New Beginning1 day ago
-
Turning Bullish. Buying more.1 day ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Rate cut and where to park money3 days ago
-
-
-
-
-
-
25 Or 50 Basis Points?5 days ago
-
-
-
-
-
Finance Investment Movement 495 days ago
-
-
-
-
-
-
-
-
-
-
265,528,900%1 week ago
-
-
-
-
-
-
-
-
-
-
-
-
Summary of August 20242 weeks ago
-
-
Portfolio Summary for August 20242 weeks ago
-
-
-
Portfolio (Aug 30, 2024)3 weeks ago
-
-
Portfolio -- Aug 20243 weeks ago
-
-
-
-
-
What Makes Up Our Wealth?3 weeks ago
-
MSC: Mission Critical distributor3 weeks ago
-
-
-
-
-
-
-
500k Milestone!5 weeks ago
-
Random thoughts: Air Drying of car5 weeks ago
-
-
-
-
-
-
-
-
-
Be anti-fragile1 month ago
-
-
-
-
-
-
Monthly IBKR Update – June 20242 months ago
-
At the Half Year Mark2 months ago
-
-
-
-
2Q 2024 Investment Strategy Update2 months ago
-
Oh My Spins Casino Login App2 months ago
-
-
-
-
Free money again! Don't say #bojio.3 months ago
-
-
-
-
-
Breakthroughs in portfolio :)3 months ago
-
-
-
China’s going downhill?4 months ago
-
-
-
Feb 2024 Expenditure5 months ago
-
-
The Market Is A Scam!6 months ago
-
-
-
-
Options Trading Journal Jan 20247 months ago
-
-
-
-
Year 2023 DIYQuant Portfolio Performance Report8 months ago
-
Monthly Summary of November 20239 months ago
-
Migration of website9 months ago
-
-
-
-
-
-
-
-
-
-
-
-
A New Light1 year ago
-
-
-
-
-
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment2 years ago
-
Terra Hill Condo (former Flynn Park)2 years ago
-
Alibaba VS Tencent: The Battle Royale2 years ago
-
-
-
-
-
-
-
-
-
Home
CAREPLS
COMFORT
HARTA
KOSSAN
RUBEREX
TOPGLOV
Glove stocks among Bursa's top active counters as most rebound