KUALA LUMPUR (May 13): HLT Global Bhd shares continued their rally for a third day today amid fears of a second wave of Covid-19 infections in China as new cases emerged in Wuhan, where the coronavirus outbreak began.

At 9.35am, the ACE Market-listed industrial stock gained as much as 15.5 sen or 40.79% to 53.5 sen with 104.58 million shares traded. This valued the company at RM271.35 million.

HLT was also the second most active counter on Bursa Malaysia. The glove-dipping line maker has climbed up to new highs since April 24 as the global pandemic curve has yet to flatten, boosting demand for glove products in affected countries.

Year to date, the stock’s value has risen over 2.32 times.

Last Sunday, Prime Minister Tan Sri Muhyiddin Yassin announced the government's decision to extend the conditional movement control order for another four weeks until June 9.

This came a day before China reported a second day of new Covid-19 cases in Wuhan on Monday after a month without new infections at the pandemic's global epicentre, offering a stark warning of the dangers of a fresh wave.

Yesterday, health director-general Datuk Dr Noor Hisham Abdullah said there has also been an emergence of new clusters in countries that have recovered from Covid-19, which is a cause of concern for Malaysia.

Shares of healthcare and related product manufacturing companies have become the darling of investors in markets across the world including Wall Street, as medical services take centre stage amid the Covid-19 crisis.

HLT is principally involved in the design, fabrication, installation, testing and commissioning of glove-dipping lines and the supply of associated parts and components, according to its website.

The group's customers are rubber glove manufacturing companies involved in the production of natural and synthetic rubber gloves used across various industries including medical, industrial and food processing industries.