KUALA LUMPUR: Glove manufacturers' share price declined on Bursa Malaysia after OSK Research downgraded the sector to neutral from overweight and said the rubber glove sector had been experiencing normalising demand since the start of 2H10 when the H1N1 pandemic lost its influence as a factor driving demand growth and as new capacity started to flood the market.
It said on Tuesday, Sept 21'' that as rubber glove manufacturers were unable to pass on to their customers all additional cost increases arising from higher latex prices and an unfavourable US dollar-ringgit exchange rate, most saw their margins as well as absolute bottom lines being compressed.
At 11.20am, Top Glove fell 22 sen to RM5.58, Hartalega down 12 sen to RM4.58, Supermax lost six sen to RM4.29, Adventa fell three sen to RM2.44 while Kossan shed two sen to RM3.10.
It said on Tuesday, Sept 21'' that as rubber glove manufacturers were unable to pass on to their customers all additional cost increases arising from higher latex prices and an unfavourable US dollar-ringgit exchange rate, most saw their margins as well as absolute bottom lines being compressed.
At 11.20am, Top Glove fell 22 sen to RM5.58, Hartalega down 12 sen to RM4.58, Supermax lost six sen to RM4.29, Adventa fell three sen to RM2.44 while Kossan shed two sen to RM3.10.
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