Wednesday, September 14, 2011

Glove makers continue slide

KUALA LUMPUR: Glove makers continued to see selling pressure on Wednesday, Sept 14 on concerns about the weak demand for the products as well as still high latex prices.

At the close, Supermax fell 26 sen to RM2.32, Kossan 11 sen to RM2.60, Top Glove nine sen to RM4.08, Adventa five sen to RM1.51, Latexx four sen to RM1.35 and Hartalega two sen to RM5.53.

Analysts have maintained a negative outlook for the sector as there were no strong catalysts to boost glove demand as well as profit margin, in the absence of a pandemic.

'We believe the industry has not seen any significant improvement in demand either since there were no new markets or health scares,' said OSK Research in a note Sept 14.

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