Glove stocks make strong rebound ahead of earnings results

KUALA LUMPUR: The FBM KLCI extended a positive retracement on Wednesday as investors overcame earlier anxieties over a sell-off in US Treasuries.

At 12.30pm, the key index was up 9.03 points to 1,578.9, in line with a rebound in regional equities.

Glove counters ended their correction with a strong rebound ahead of earnings results. Top Glove jumped 25 sen to RM5, Hartalega gained 43 sen to RM9.84 and Supermax rose 52 sen to RM4.63.

Among the smaller players in the sector, Careplus jumped 31 sen to RM1.82, Comfort Gloves climbed 30 sen to RM2.20 and Rubberex rose 18 sen to RM1.27.

Aluminium producer Press Metal also advanced, rising 30 sen to RM10 while Petronas Chemicals added 11 sen to RM7.64.

Of actives, Parkson rose 1.5 sen to 20.5 sen, AImflex fell 3.5 sen to 28 sen and EA Holdings slid 0.5 sen to 3.5 sen.

In Asian markets, Japan's Nikkei rose 0.2% and South Korea's Kospi gained 0.8%.

China's composite index added 1.3% while Hong Kong's Hang Seng climbed 1.7%. Australia's ASX200 rose 0.8%.
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Bursa Malaysia , FBM KLCI , equities


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