gloveharicut
Bursa healthcare gauge falls most as GLOVE makers shares slump
gloveharicut
Publish date: Tue, 08 Sep 2020, 01:43 PM
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I invite you to read my blog and make a smart GLOVE decision.
https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp
If the vaccine work, GLOVE share price should drop more than 50%, then it should free falling to pre-covid level.
It is NOT HAPPENING. VACCINE is far away.
In my humble opinion - This is a CORRECTION.
BANKER I challenge you to sell TOPGLOV to RM4.00 to prove me wrong.
I am reproducing The Edge article to my blog.
This post don't have any value added content.
Compile here for my own record.
Please skip if you don't like it.
https://www.theedgemarkets.com/article/bursa-healthcare-gauge-falls-most-glove-makers-shares-slump
Bursa healthcare gauge falls most as glove makers shares slump
KUALA LUMPUR (Sept 8): Bursa Malaysia’s healthcare index fell the most in percentage terms in morning trades today as share prices of rubber glove manufacturers slumped among the bourse’s leading decliners.
At 11am, the healthcare index fell 137.35 points or 3.67% to 3,606.39.
Share prices of Supermax Corp Bhd, Kossan Rubber Industries Bhd, Top Glove Corp Bhd and Hartalega Holdings Bhd slumped.
At 11:01am, Supermax fell 75 sen or 8.33% to RM8.25 while Kossan dropped 72 sen or 5.26% to RM12.98.
Top Glove declined 38 sen or 4.59% to RM7.90 while Hartalega was down 32 sen or 2.29% at RM13.68.
Top Glove and Hartalega are also FBM KLCI constituents.
Top Glove and Supermax fell today following the listing of their new bonus shares.
Top Glove said its bonus issue has been completed following the listing of and quotation for 5.42 billion bonus shares on the Main Market of Bursa and the Main Board of Singapore Exchange Securities Trading Ltd yesterday.
Supermax said its 1.36 billion new bonus shares would be listed on Bursa’s Main Market today.
In general, issuance and listing of new shares in companies expand the number of issued shares in these firms, hence anticipation of earnings per share dilution.
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Discussions
Be the first to like this. Showing 9 of 9 comments
there is a thing called 'sentiment'. Most vaccines are out by year end. Whether it is effective is another question. Russia is doing mass vaccination by year end. China revealed that it has already vaccinated its front line health workers. The 2 largest glove makers are inside KLCI components.
Where is the KLCI heading in the near term ? From the Elliott Wave perspective, after the end of the 5 waves, a correction will occur to correct the 5 up waves.
https://www.tradingview.com/x/tQuQBOww
2020-09-08 14:43
so much bonus shares of course ppl want to sell mah!!! normal mah!!!
2020-09-08 18:12
in USA, good results, ppl buy
but in Malaysia, good results, ppl sell
how to be world class developed country like this? malaysia mentality of 3rd world country
2020-09-09 11:34
Uncle selling chicken in Pasar also bought. Who else bought...uncle don’t care about good results.
2020-09-09 12:05
SEMUA ORANG PANDAI CAKAP BELI TOP GLOVES TAPI GUA BELI SUDAH RUGI BANYAK. KENAPA ?
2020-09-09 21:14
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Don't catch the falling knife
2020-09-08 14:13