Kossan Rubber bounces after EPF ups stake

Glove power: Shares of rubber glove manufacturers have been on an uptrend since the beginning of the year on the back of a continuous strong US$.

PETALING JAYA: Shares of Kossan Rubber Industries Bhd rose 23 sen or 3.4% to close at RM7.07, after the Employees Provident Fund (EPF) increased its stake in the glove manufacturer.

According to filings with Bursa Malaysia, the EPF currently owns about 42.94 million shares or 6.7% in Kossan. The fund has been gradually acquiring shares in the company since last month from 36.06 million shares or a 5.64% stake.