Hot stocks Rubber glove stocks rise, H7N9 in focus

Business & Markets 2013
Written by Zatil Husna of theedgemalaysia.com
Tuesday, 07 May 2013 16:33
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KUALA LUMPUR (May 7): Shares of rubber glove manufacturer rose
today, possibly on news that the bird flu (H7N9) death toll in China has
increased.
Reuters reported earlier today that four more people in China have died
from H7N9, bringing a total of 31 deaths and a higher number of 129
infected.
An analyst said that this latest news updates could have spurred shares
of rubber gloves companies like TOP GLOVE CORPORATION BHD [],
KOSSAN RUBBER INDUSTRIES BHD [], HARTALEGA HOLDINGS
BHD [] and SUPERMAX CORPORATION BHD [].
“It (the report) might have impacted the stocks though there is no proof
of rise in demand for rubber gloves,” an analyst told theedgemalaysia.com.
At 4:18 pm, Top Glove was trading at its intraday high of RM6.47 after rising 21 sen or 3.35%, with some 1.7 million units
done.
At the same time, Kossan rose to RM3.93, after rising as much as four sen or 1.03%, with some 1.03 million units changed
hands.
Meanwhile, Hartalega was transacted at RM5.43, after rising 13 sen or 2.45% with some 1.01 million units done. Hartalega is
expected to report better 4Q results later today.
Supermax, which fell yesterday, was priced at RM2.02, an increase of six sen or 3.06% with some 2.5 million units traded.
According to Reuters, the Geneva-based World Health Organization (WHO) has said it has no evidence that the new strain of
bird flu, which was first detected in patients in China in March, is easily transmissible between humans.
Chinese scientists have confirmed that the H7N9 strain has been transmitted to humans from chickens. But the WHO has said
40% of people infected with H7N9 appear to have had no contact with poultry.