Tuesday, June 8, 2010

Glove makers up, demand seen picking up

KUALA LUMPUR: Supermax Corp and Top Glove rose in active trade on Tuesday, June 8 following a positive outlook from S&P Equity Research.

At 4.31pm, Supermax was up 15 sen to RM6.65 with 2.42 million shares done while Top Glove gained 14 sen to RM12.46.

The FBM KLCI rose 3.4 points to 1,289.67.

S&P Equity Research vice-president Lorraine Tan said on Monday demand for rubber gloves was also expected to pick up in the third quarter as inventory was drawn down.

'The sectors we like for quite a while now include the banks and healthcare, namely the rubber gloves. Both sectors, I'm happy to say, have done relatively well. They've outperformed,' she said.

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