<div class=newsTextDataWrapInner><p>SINGAPORE (Jan 9): Shares of Malaysian glove exporters are under pressure from strength in the ringgit, firm crude oil prices and investors reducing exposure after two years of outperformance, Citigroup’s analysts including Megat Fais and Patrick Yau write in note.</p></div>

<div class=newsTextDataWrapInner><p>* 1% appreciation in ringgit reduced glove makers’ earnings by 2%-3%: Citi</p></div>

<div class=newsTextDataWrapInner><p>* Remains cautious on the sector for 2019 amid stretched valuations, higher supply from Chinese and Thailand rivals and capital expenditure at Malaysian companies</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>* Potential mean reversion in valuation implies 25-30% drop in stocks if ringgit moves strongly or if earnings significantly miss estimates</p></div>

<div class=newsTextDataWrapInner><p>* Hartalega looks to be most at risk</p></div>

<div class=newsTextDataWrapInner><p>* Maintains sell on Top Glove and Hartalega, neutral on Kossan and buy on Supermax</p></div>


SINGAPORE (Jan 9): Shares of Malaysian glove exporters are under pressure from strength in the ringgit, firm crude oil prices and investors reducing exposure after two years of outperformance, Citigroup’s analysts including Megat Fais and Patrick Yau write in note.

* 1% appreciation in ...

Malaysian glove makers under pressure on ringgit, oil: Citigroup

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