PETALING JAYA: A virus outbreak aboard an Atlantic cruise ship sent Malaysian glove stocks soaring, with the largest listed glove maker Top Glove Corp Bhd
hitting its strongest level in a year.
Top Glove shares, which was the most actively traded stock yesterday, surged by 12.5% and lifted the stock’s market capitalisation by over RM760mil in a day.
Hartalega Holdings Bhd rose by 8.1%, while Kossan Rubber Industries Bhd was up by almost 5%. Meanwhile, Supermax Corp Bhd shares hiked by 7.6%.
The rise in glove stocks helped the Healthcare Index of Bursa Malaysia emerge as the best performing index, outperforming the benchmark FBM KLCI.
The Healthcare Index rose by almost 4% while the FBM KLCI was down by 0.16% amid late selling pressure.
The FBM KLCI bucked the broader regional trend as several Asian markets climbed to fresh highs.
The latest investor interest in glove stocks was sparked by the Andes strain of the hantavirus, which broke out on the MV Hondius cruise ship.
Media reports said the US Centres for Disease Control and Prevention has classified the outbreak as a Level 3 emergency response, the agency’s lowest emergency activation level.
Last Friday, Health Minister Datuk Seri Dr Dzulkefly Ahmad confirmed that no Malaysians were on board the MV Hondius cruise ship. The ship is now anchored at the Port of Granadilla near the Spanish island of Tenerife.
In a LinkedIn post, Malacca Securities Sdn Bhd head of research Loui Low said the stars may be aligning for the glove stocks this time around.
