LOCAL listed glove makers have experienced a bad week after investors sold down on the sector following a downbeat earnings performance and outlook from Hartalega Holdings Bhd
for the early part of this year.
Hartalega’s nine-month earnings came in way off the mark at some 45% of consensus expectations, which triggered the selling which has wiped out RM3.25bil of its market capitalisation, while peer Top Glove Corp Bhd has lost RM1.6bil in market value since Tuesday.
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