Glove stocks battered

Top Glove, Hartalega Holdings Bhd and Supermax Corp Bhd, which are the three FBM KLCI component glove stocks, dragged down the index by nearly 12 points.

PETALING JAYA: The exodus of investors from glove stocks showed no signs of stopping even as valuations turned more attractive such as in the case of Top Glove Corp Bhd, where its price-to-earnings ratio (PER) dropped to a single digit.

Another round of heavy selling yesterday among the Big Four glove counters wiped out about RM6.3bil in market capitalisation.