Rubber glove stocks rise amid new wave of Omicron

by BERNAMA / pic by BLOOMBERG

KUALA LUMPUR – Rubber glove makers counters emerged among the top gainers on Monday led by Top Glove Corporation Bhd on the back of rising number of new COVID-19 cases as a new wave of Omicron variant hits the country.

At 3 pm, Top Glove’s share price rose 11.98 per cent, or 26 sen, to RM2.43, with 49.41 million shares traded after opening at RM2.27 in early session today.

Among other rubber glove makers, Hartalega Holdings Bhd was also 26 sen higher at RM5.86, with 4.75 million shares traded, while Supermax Corporation Bhd share price increased seven sen to RM1.33 with a total of 23.46 million shares changing hands.

Other glove stocks on the rise include Kossan Rubber Industries Bhd, gaining nine sen to RM1.92 with 8.92 million shares traded, and Careplus Group Bhd, improving 9.5 sen to RM1.04, with 25.29 million shares changing hands.

Malaysia reported 10,089 daily COVID-19 cases on Sunday, up from 9,117 the previous day –  the highest level seen since Oct 2, 2021 (10,915 cases) as the country is fully hit by the new wave of Omicron variant.

Health Minister Khairy Jamaluddin said the number of daily COVID-19 cases is expected to hit 15,000 a day soon.