KUALA LUMPUR (May 14): Buying momentum continued in some rubber glove counters for the fourth consecutive day today amid concerns of a fresh wave of Covid-19 infections in several countries.

As of midday, Top Glove Corp Bhd, Kossan Rubber Industries Bhd, Hartalega Holdings Bhd and Supermax Corp Bhd had risen to new highs with a combined 69.84 million shares exchanging hands.

Top Glove gained as much as 71 sen or 7.63% to RM10.02, followed by Supermax (up 4.72% to RM3.77), Kossan (up 3.21% to RM7.40) and Hartalega (up 1.92% to RM9.03).

Year to date, Top Glove and Supermax have more than doubled their market value while Kossan and Hartalega have gained 77.88% and 68.78% respectively.

Of the 22 research houses which track Top Glove, 15 have rated the firm with "strong buy" and "buy" while Supermax has one "strong buy" and six "buy" calls out of nine ratings.

Kossan has garnered five "strong buy" and 11 "buy" calls from the 19 brokerage firms that track the group while Hartalega has four "buy" calls out of 21 ratings. The latter is the only one among the four stocks that has a "sell" rating.

Glove makers have benefited from the Covid-19 pandemic, which saw a spike in global demand for healthcare products including rubber gloves, particularly in affected countries.

This is amid fears of a second wave of coronavirus infections following new cases reported in Wuhan — the epicentre of the global pandemic — after the city was declared free from the virus for about a month.

Globally, new clusters have emerged in countries that have recovered from the crisis, offering a stark warning of the dangers of a fresh wave.