KUALA LUMPUR:'' Top Glove was the top decliner among the glove makers in the afternoon trade on Tuesday, Sept 7 on various challenges faced by the sector.
At 3.10pm, Top Glove fell 18 sen to Rm5.82, Supermax Corp lost 14 sen to RM4.83 and Kossan nine sen to RM3.20.
Laxtexx Partners fell three sen to RM3.02 and the warrants, Latexx-WA 11 sen to RM2.39 while Hartalega shed four sen to RM4.99.
The Edge FinancialDaily reported risks of overcapacity, record-high latex prices, the appreciation of the ringgit and a potential cut in gas subsidies.
For the recently ended June quarter, major glovemakers continued to report robust top-line and bottom-line growth.
Despite the strong results and the rash of positive analyst reports reaffirming their confidence in the sector, investors' interest remained ambivalent. There was little positive reaction to the results. In fact, many stocks continued to slide ' notably Supermax, which was trading near a six-month low.
The concerns facing the sector could show up in the coming quarters, said an analyst. This is especially true if rising capacity is not well absorbed, as fears over the H1N1 virus have subsided.
At 3.10pm, Top Glove fell 18 sen to Rm5.82, Supermax Corp lost 14 sen to RM4.83 and Kossan nine sen to RM3.20.
Laxtexx Partners fell three sen to RM3.02 and the warrants, Latexx-WA 11 sen to RM2.39 while Hartalega shed four sen to RM4.99.
The Edge FinancialDaily reported risks of overcapacity, record-high latex prices, the appreciation of the ringgit and a potential cut in gas subsidies.
For the recently ended June quarter, major glovemakers continued to report robust top-line and bottom-line growth.
Despite the strong results and the rash of positive analyst reports reaffirming their confidence in the sector, investors' interest remained ambivalent. There was little positive reaction to the results. In fact, many stocks continued to slide ' notably Supermax, which was trading near a six-month low.
The concerns facing the sector could show up in the coming quarters, said an analyst. This is especially true if rising capacity is not well absorbed, as fears over the H1N1 virus have subsided.
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