Glove stocks on decline due to lower ASPs
KUALA LUMPUR (July 1): Shares in glove manufacturers dipped in the morning session on Friday (July 1) amid the downward trajectory of average selling prices (ASPs) caused by supply exceeding demand.
Main Market players Hartalega Holdings Bhd fell 21 sen or 6.86% to RM2.85, Kossan Rubber Industries Bhd slipped one sen or 0.76% to RM1.31, Top Glove Corporation Bhd dropped three sen or 2.88% to RM1.01 and Supermax Corporation Bhd lost two sen or 2.29% to 85 sen.
Meanwhile, Comfort Gloves Bhd weakened 2.5 sen or 3.97% to 60.5 sen, Rubberex Corporation (M) Bhd fell half a sen or 0.96% to 51.5 sen and Careplus Group Bhd lowered 1.5 sen or 3.37% to 43 sen.
As for ACE Market players, HLT Global Bhd shed one sen or 4.26% to 22.5 sen and ES Ceramics Technology Bhd sank half a sen or 1.89% to 26 sen, while Flexidynamic Holdings Bhd remained unchanged with its last adjusted closing price at 41 sen.
More to come
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