KUALA LUMPUR (Dec 24): Supermax Corp Bhd, which was traded as an FBM KLCI constituent for the first time on Monday, is now the year-to-date (YTD) top percentage gainer among the 30 KLCI stocks after rising more than 900% between Jan 1 and yesterday. Top Glove Corp Bhd was ranked second.

According to Top Glove’s latest investor presentation, rubber glove manufacturer Supermax’s share price had registered a YTD gain of 917.81% based on the stock’s closing price at RM6.92 yesterday.

Top Glove, meanwhile, registered a YTD rise of 329.57% based on the stock’s closing price at RM6.73 yesterday.

Another rival glove maker, Hartalega Holdings Bhd, was ranked third after its share price saw a YTD increase of 132.12% based on the stock’s closing price at RM12.72 yesterday.

The inclusion of Supermax into the KLCI means the company has joined Top Glove and Hartalega, both of which were earlier included in the KLCI following the recent share price rise for rubber glove manufacturers due to the global Covid-19 pandemic.

The glove manufacturers’ respective market capitalisation has risen in tandem with their share prices as the Covid-19 pandemic led to expectations of higher demand for rubber gloves to curb the coronavirus outbreak, hence providing a better earnings outlook for these companies.