Glove counters slump, dominate losers list on Bursa

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KUALA LUMPUR (Aug 14): Selling pressure persisted on glove stocks when their share prices slumped in mid-morning trade today as concerns over downside risks took the centre stage following news that Russia had granted approval for a Covid-19 vaccine to start production soon. 

Glove counters dominated the top losers list as more investors were on a profit-taking spree after a meteoric rise in the counters' share prices over the past few months.

As at 11.15am, Top Glove Corp Bhd had slid 3.68% or 92 sen to RM24.08, while its FBM KLCI component peer Hartalega Holdings Bhd dropped 42 sen or 2.54% to RM16.14. 

Supermax Corp Bhd tumbled 6.67% or RM1.30 to RM18.18, while Kossan Rubber Industries Bhd fell 2.78% or 42 sen to RM14.68.

Among the smaller players, Rubberex Corp (M) Bhd plunged 9% or 45 sen to RM4.55, Careplus Group Bhd slid 10.2% or 36 sen to RM3.17, and Comfort Gloves Bhd slipped 7.14% or 30 sen to RM3.90.

Meanwhile, Supermax structured warrants SUPERMX-C80 declined 4.84% or 60 sen to RM11.80, followed by SUPERMX-C87, down 2.79% or 20 sen to RM6.89, and SUPERMX C-89, which was 2.97% or 17 sen lower at RM5.55.