Supermax, Top Glove, Kossan and Hartalega reach new highs with rubber glove bull run showing no sign of slowing down

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KUALA LUMPUR (July 14): The bull run of rubber glove stocks is showing no sign of dissipating anytime soon, with shares in Supermax Corp Bhd, Top Glove Corp Bhd, Kossan Rubber Industries Bhd and Hartalega Holdings Bhd scaling to new all-time highs.

As of 9.49am, Supermax shares were up by 9.51% or RM1.52 higher at RM17.50, valuing the rubber glove manufacturer at some RM23.81 billion.

Supermax had seen 22.99 million shares done as at the time of writing, and was the second-highest gainer on the local bourse today, after its very own Supermax-C78 warrant.

In fact, Supermax’s various warrants dominated the list of top 10 gainers on the local bourse this morning.

As for Top Glove, the counter rose by as much as 4.83% to a high of RM25.16 per share. However, as of 9.49am, shares in the Tan Sri Lim Wee Chai-founded company were trading  2.92% or 70 sen higher at RM24.70 per share, giving it a market capitalisation of RM66.62 billion.

In terms of trading volume, Top Glove saw 8.24 million shares traded.

Kossan rose by as much as 4.72% this morning to an intraday high of RM13.30. It was now trading 4.09% or 52 sen higher at RM13.22, giving it a market value of RM16.91 billion. It saw some 4.43 million shares done.

Meanwhile, shares in Hartalega gained by as much as 1.34% to RM18.14 before paring gains to RM17.92 — rising by 0.11% or two sen — valuing it at some RM60.71 billion.

The buying of rubber glove counters is expected to continue as the Covid-19 pandemic shows no sign of slowing down in certain countries, such as in the US, India, Japan and Australia.