KUALA LUMPUR (Dec 2): Share prices of rubber glove makers including Top Glove Corp Bhd and Hartalega Holdings Bhd rebounded on bargain hunting on Thursday (Dec 2) after investors took profit in recent days and as they assessed updates on the Omicron variant of Covid-19. At 10.16am, Top Glove shares were traded 11 sen or 4.01% higher at RM2.85, while Hartalega’s share price had risen seven sen or 1.11% to RM6.36. Glove makers have been closely watched since the Covid-19 pandemic started in early 2020 due to gloves being crucial personal protective equipment to curb the spread of the outbreak. Looking back, share prices of glove makers rose substantially during the onset of Covid-19 in anticipation that the companies will register higher earnings from stronger demand for their products. However, news of global Covid-19 vaccination progress tempered such sentiment on stronger demand for gloves in recent months before the current Omicron variant rekindled investors' enthusiasm for glove manufacturers.

Source: The Edge Markets December 02, 2021 11:58 UTC