Glove prices likely to be on downtrend

Many of the glove counters, including the world’s largest glove maker Top Glove Corp Bhd as well as Hartalega Holdings Bhd, Kossan Rubber Industries Bhd and Supermax Corp Bhd, are trading at single digit historical price-to-earnings ratio (PER).

PETALING JAYA: The declining glove prices have raised concerns over the prospects of the sector.

The exodus of investors from glove stocks showed no signs of stopping even though most of the share prices of glove stocks have been battered down by more than half since November last year.