PETALING JAYA: The stock market, powered by the rise in rubber glove stocks which makes a number of them more valuable than a number of household corporate names, almost pared back all of its losses for this year as it remains supported by cheap borrowing costs and an improving economic outlook.
Glove stocks continued to rally including Supermax Corp Bhd
which hit an all-time high of RM12.44 per share, giving it a market capitalisation of RM16.1bil.
Supermax is now more valuable than Genting Bhd, Telekom Malaysia Bhd or Sime Darby Bhd which have market capitalisation of RM15.86bil, RM15.67bil and RM14.41bil, respectively.
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