Glove counters dominate gainers list

Glove counters dominated the gainers list. While there was a small correction in Top Glove and Hartalega, other glove stocks continued to post gains.These included Kossan Rubber Industries Bhd (pic) that added 80 sen to RM13.50, Comfort Gloves Bhd that gained 41 sen to RM3.84 and Rubberex Corp (M) Bhd that climbed 30 sen to RM3.65.

PETALING JAYA: The FBM KLCI staged a late recovery albeit still closing lower for the day after buyers came in to mop up the two biggest rubber glove stocks on the benchmark index – Top Glove Corp Bhd and Hartalega Holdings Bhd – following a final hour sharp slump.

“There was some form of strong selling in the final hour of trade where we saw Top Glove and Hartalega falling almost limit down but it staged a strong V-shaped recovery thereafter although they still closed lower for the day, ” Rakuten Trade Research vice-president Vincent Lau told StarBiz.