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Kenanga Research has kept its “overweight” call on the glove sector, perhaps in contrast to a number of other research houses, saying that its optimism is backed up by a number of factors.
Although the imposition of higher tariffs on China-made gloves by the United States is positive for local glove manufacturers, the upside is capped by the strengthening of the ringgit, analysts say.
The Biden administration’s latest tariff salvo against China is good news to Malaysian glove makers as it means that their Chinese competitors can no longer undercut them at a huge discount for exports to the United States.