KUALA LUMPUR (Nov 30): Glove makers fell on Tuesday (Nov 30), as investors took profit after concerns over the Omicron variant of the Sars-COV-2 virus abated, said fund managers. At Tuesday's closing, Top Glove settled at 26 sen or 8.15% lower at RM2.93, after slipping to an intra-day low of RM2.78. He expects glove makers' downtrend to continue due to environmental, social and governance (ESG) concerns, rising capacity from existing and new glove players and also declining average selling price trend. “It is too early to tell what is the impact from the Omicron variant. Rakuten Trade head of research Kenny Yee also said the surge in glove makers on Monday was a knee-jerk reaction to the Omicron variant.

Source: The Edge Markets December 01, 2021 00:11 UTC