Quick take: Glove counters pull back as vaccine hopes lift


  • Stock on the Move
  • Tuesday, 19 May 2020

KUALA LUMPUR: Glove manufacturers, which had been on an uptrend over concerns of Covid-19, fell in early trade on hopes of an early success for a vaccine against Covid-19.

Top Glove Corp Bhd and a few of its peers are among the top losers on Bursa Malaysia after a coronavirus vaccine showed potential signs. Malaysia is the world’s largest producer of medical gloves.

Top Glove, the world’s largest glove maker, shed 34 sen, or 3.24% to RM10.16 with 1.66 million shares traded.

Hartalega is the top loser, falling 5.48%, or 53 sen to RM8.60. Supermax fell 47 sen, or 10.54% to RM3.99, Kossan shed 47 sen, or 6.08% to RM7.26.

Comfort fell 9.87%, or 22 sen to RM2.01 while Rubberex shed 10%, or 19 sen to RM1.73.

It has been reported that US biotech firm Moderna reported promising early results from the first clinical tests of an experimental vaccine against the novel coronavirus performed on a small number of volunteers.

The company said the vaccine candidate, mRNA-1273, appeared to produce an immune response in eight people who received it similar to that seen in people convalescing from the virus.

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gloves , top Glove , Hartalega , Kossan , Supermax

   

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