Glove players may return to spotlight on Covid-19 resurgence
15 Jun 2020
Glove players may return to the spotlight in view of renewed concerns over a second wave of the Covid-19 pandemic, said Malacca Securities today.
The research firm said the recent slide towards near its margin capping share price for rubber glove companies suggested that the pullback may be near the tail-end, while demand for healthcare-related products and services are expected to increase overtime.
“The rising number of Covid-19 cases, which is currently close to 8.0 million and the over 400,000 deaths, continues to pose a stumbling block to the global economic recovery.
“The number of hospitalisations have spiked in recent days in several parts of the world, sparking concerns of a potential second wave of infections,” said Malacca Securities in a note today.
At 10.10am, Top Glove fell 10 sen to RM16.80, Supermax declined 27 sen to RM7.64, Rubberex added four sen to RM3.18 and Comfort Glove gained one sen to RM2.94.