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Analyst on outlook for Top Glove, Malaysian glove stocks

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SINGAPORE — The recent plunge in share prices of Malaysian rubber gloves makers is “unjustified,” said an analyst who’s predicting further upside for the stocks.

Shares of Top Glove, the world’s largest rubber gloves producer, have fallen 17.7% this year as of Monday’s close. Its smaller peers Hartalega, Supermax and Kossan have dropped between 18% and 30%.

In comparison, the benchmark FTSE Bursa Malaysia KLCI Index fell 0.9% in the same period.

Staff of Top Glove, the world’s biggest glove maker, check on the production of latex gloves in a watertight test room at one of the company’s factories in Selangor, Malaysia, on Feb. 18, 2020.

Samsul Said | Bloomberg | Getty Images

“We are…



Source cnbc.com

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