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Hot Stocks Rubber glove shares rise on bird flu
by Cals Wed 10 Apr 2013, 14:40
Hot Stocks Rubber glove shares rise on bird flu
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 10 April 2013 14:00
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KUALA LUMPUR (April 10): Shares of rubber glove producers rose till noon in anticipation that the bird flu in China will lead to higher demand for the product and stronger profits for manufacturers.
At 12.30pm, Top Glove Corp Bhd rose one sen to RM5.93 after rising as much as 13 sen or 2.2% to RM6.05 earlier. Some 1.3 million shares changed hands.
Supermax Corp Bhd which rose two sen to RM2.08 with some 4.3 million shares traded, had jumped as much as seven sen or 3.4% to RM2.13 earlier.
KOSSAN RUBBER INDUSTRIES BHD [] fell one sen to RM3.80 with about 148,000 shares changing hands after rising seven sen or 1.8% to its intraday high of RM3.88.
Meanwhile, HARTALEGA HOLDINGS BHD [] was flat at RM5.19 with around 218,000 shares done. The stock had risen as much as five sen or 1% to RM5.24 earlier.
Supermax CEO/group managing director Datuk Seri Stanley Thai said the firm is anticipating a "short-term exceptional rise in profits," due to higher demand for rubber gloves amid the bird flu outbreak in China.
Top Glove Corp Bhd managing director K.M. Lee said world rubber glove demand is expected to spike if the H7N9 bird flu develops into an epidemic along the proportions of the H1N1 outbreak in 2009 and 2010.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 10 April 2013 14:00
A + / A - / Reset
KUALA LUMPUR (April 10): Shares of rubber glove producers rose till noon in anticipation that the bird flu in China will lead to higher demand for the product and stronger profits for manufacturers.
At 12.30pm, Top Glove Corp Bhd rose one sen to RM5.93 after rising as much as 13 sen or 2.2% to RM6.05 earlier. Some 1.3 million shares changed hands.
Supermax Corp Bhd which rose two sen to RM2.08 with some 4.3 million shares traded, had jumped as much as seven sen or 3.4% to RM2.13 earlier.
KOSSAN RUBBER INDUSTRIES BHD [] fell one sen to RM3.80 with about 148,000 shares changing hands after rising seven sen or 1.8% to its intraday high of RM3.88.
Meanwhile, HARTALEGA HOLDINGS BHD [] was flat at RM5.19 with around 218,000 shares done. The stock had risen as much as five sen or 1% to RM5.24 earlier.
Supermax CEO/group managing director Datuk Seri Stanley Thai said the firm is anticipating a "short-term exceptional rise in profits," due to higher demand for rubber gloves amid the bird flu outbreak in China.
Top Glove Corp Bhd managing director K.M. Lee said world rubber glove demand is expected to spike if the H7N9 bird flu develops into an epidemic along the proportions of the H1N1 outbreak in 2009 and 2010.
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