Glove stocks to add more weight

Supermax Corp Bhd will join its two larger counterparts in the top 30 list, marking a historical moment for the index with three glove makers, but also one that will make it more sensitive to the sector.

PETALING JAYA: Bursa Malaysia’s benchmark index FBM KLCI, which is already heavily tilted towards the price movement of rubber glove counters, will see more rubber glove weightage being added to it starting Dec 21.

Supermax Corp Bhd will join its two larger counterparts in the top 30 list, marking a historical moment for the index with three glove makers, but also one that will make it more sensitive to the sector.

Together with Top Glove Corp Bhd and Hartalega Holdings Bhd, Kenanga Research said the three constituents were estimated to make up a 14.3% weight based on current prices, up from 11.7%.