KUALA LUMPUR (Jan 4): Glove bulls appeared to have turned into glove bears as heavy selling pressure emerged on rubber glove counters on the first trading day of 2021.
Top Glove Corp Bhd led the fall. Its share price tumbled over 12% to RM5.25, its lowest level since late May last year. It was the most actively traded stock as at the time of writing. Its trading volume ballooned to 120 million shares in less than 30 minutes after the opening bell.
As for its peers, Hartalega Holdings Bhd plummeted RM1.28 or 10.5% to RM10.86, Kossan Rubber Industries Bhd plunged 46 sen or 10.44% to RM4.03, while Supermax Corp Bhd slid 37 sen or 6.15% to RM5.65. – The Edge Markets