KUALA LUMPUR (Jan 29): Glove makers posted declines on Bursa Malaysia this morning, reversing their sharp gains yesterday on the back of escalated fears of the Coronavirus outbreak.

Hong Leong IB Research in a note this morning said  that after rallying in the last few days, gloves and healthcare-related companies’ are likely to take breather amid steeply overbought positions.

As of 9:41 am, shares in Top Glove Corp Bhd were trading 0.17% or a sen lower at RM5.99 per share.  It saw 3.21 million shares traded.

Meanwhile Hartalega Bhd also a slight dip, trading 0.8% or five sen lower at RM6.2, with 655,800 shares transacted.

Careplus Group Bhd was trading unchanged at 39.5 sen, with a total of 40.61 million shares traded – making it the second most actively traded stock on Bursa Malaysia.

Supermax Corp Bhd posted a decline of 1.61% or three sen at RM1.83 and with its trading volume of  18.08 million shares making it the fourth most active counter on Bursa Malaysia.

Comfort Gloves Bhd was also on Bursa’s top active list trading 1.5% or 1.5 sen downwards at 98.5 sen, with a total of 6.62 million shares transacted.

Even Bursa Malaysia’s healthcare index, which counts rubber glove manufacturers as constituents posted a decline, dipping by 0.58% or 8.30 points at 1,427.94 points.

However, the only bright spots in the sector today were Kossan Rubber Industries Bhd, which posted a 0.20% or a sen gain at RM5.02, with Adventa Bhd, also rising by 5.06% or 4.5 sen at 93.5 sen.