Glove counters down, rising latex price possible cause

PETALING JAYA: Four out of the country's six listed glove counters ended the day down although the volume traded was thin.

Analysts covering the sector said they were unaware of any specific reasons for the downtrend except that latex prices had inched nearer towards the RM8 per kg level to RM7.95 from RM7.92 last week.

At the close, Top Glove Corp Bhd, which is the largest glove manufacturer in the country and whose current product mix is made of natural rubber gloves (81%) and synthetic gloves (19%), was down 10 sen to RM4.55.

Latexx Partners Bhd, Supermax Corp Bhd, Kossan Rubber Industries Bhd also closed lower but Hartalega Holdings Bhd, which is the world's largest synthetic glove manufacturer, and Adventa Bhd bucked the overall trend finishing higher by 1 sen and 4 sen each to RM8.10 and 1.57 respectively.

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http://biz.thestar.com.my/news/story.asp?file=/2012/3/28/business/10998612&sec=business

(ldtn)

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