KUALA LUMPUR (Feb 3): Investors resumed their shorting of Top Glove Corp Bhd and Supermax Corp Bhd’s shares after taking a day off yesterday, shorting shares worth a combined RM41.62 million of the two rubber glove makers.

According to regulated short selling (RSS) data compiled by Bursa Malaysia, investors shorted a total of three million shares in Top Glove worth RM20.6 million, and 3.06 million shares in Supermax worth RM21.02 million.

The two glove makers were the most shorted stocks on the bourse today, making up 71% of the total value of shorts today of RM58.46 million. On the other hand, there was no shorting of other glove counters.

Top Glove has been the subject of RSS by investors.

Last week, a total of 17.25 million Top Glove shares worth RM110.25 million were shorted, while Supermax saw 1.39 million shares worth RM9.29 million shares shorted.

Hartalega Holdings Bhd saw 1.16 million shares worth RM14.62 million shares shorted during the same period, although Kossan Rubber Industries Bhd did not see any of its shares shorted.

As at Feb 2, Top Glove, Kossan and Hartalega topped the Net Short Selling List on Bursa Malaysia.

The percentage of the net short position of Top Glove stood at 2.98% or 244.34 million shares, up from 2.95% or 241.9 million shares as at Jan 29.

Kossan’s net short position stood at 2.04% or 52.1 million shares, while Hartalega’s was 1.34% or 45.93 million shares.

Supermax’s net short position stood at 0.64% or 17.5 million shares.

The shorting of rubber glove stocks has been in the headlines after the r/BursaBets subreddit on social media platform Reddit had highlighted these stocks for short selling, in a bid to emulate the shorting squeezing on US video game retailer GameStop.

RSS was suspended by Bursa Malaysia in March 2020, amid the global equity rout, in order to address market volatility at the time. It was reinstated on Jan 1.