When an institutional investor such as the Employees Provident Fund (EPF) ups its stake in rubber glove counters, it strengthens the confidence that there is still value in the long run. The EPF bought 13.7 million shares in Top Glove Corp Bhd, increasing its stake to 5.05% on Sept 18. Just a day earlier, it had bought 4.7 million units in Kossan Rubber Industries Bhd, raising its stake to 8.09%.
PETALING JAYA: Rubber glove makers have again hoisted Malaysia’s benchmark stock index into the positive region even amid negative sentiments from the shaky global economic recovery and local political uncertainties.
As retail investors start cashing out with the loan moratorium ending in less than a week, fundamentals are now back in play in the market after a bull run of close to six months.
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