People like @NatsukoMishima are low effort trolls. All talk, no action. Doubt he/she holds position in any of these counters (including Dnex and MI).

Until we see light at the end of the tunnel, prices will most likely remain low. Topglove mentioned about rising prices during October. Hopefully ASP bottoms out by the end of 2022. 2023 remains a challenging year for the glove industry, so plenty of time to lepak and tok kok here :)

We will see in a month if Harta makes lower profit instead of a loss. However ~30% drop in revenue from Topglove and Supermax QR is a bit concerning.

mkmk Harta will make lower profit only, not loss… now already at bottom…

Also important to note that while Chinese manufacturers may have a cost advantage, they are not doing too well either. Just look at Intco and Bluesail prices, which looked quite similar to ours.
If gloves is indeed "low-tech", then we should be more worried about manufacturers from Southeast Asia (Thailand and Vietnam) instead of China. Chinese manufacturers may receive indirect government subsidies, but Thai and Vietnamese manufacturers have better access to raw materials and cheaper labour.

Even though I've expected a red upcoming quarter report, we may have reached closed to the bottom. Occasionally we may see 1.4X, but prices such as 1.2X are unlikely. Will be getting some dividend soon. Plan to plow it all back into Harta shares.

all my other counters dropping, but Harta/Kossan remained steady...
Like kura-kura, slow and steady

Ah Khatul, Even if I have to keep in freezer for three years, if the return is good, I'm okay with it.
Suppose my average price is RM2. If in three years price recovers to pre-pandemic level of RM4 (double in 3 years), I am earning about 26% per year. For those with average price of RM1.5, even better, a 38% annualized return! Whether or not we will reached RM4 in 3 years, we tak tau lah!

In light of rising cost of production and lower ASP, there's a good chance we may see a red in the next few quarterly report, which is why current prices are this low! Eventually by around 2023/2024 things should go back to normal. Why worry, just buy in batches and average down.

Of course this counter is not for everyone. Day-trader could make more by taking profit from counters that trends up.

@Tobby read carefully lar...
"All mainstream Taiwanese political parties have rejected that proposal and it has almost no public support, according to opinion polls, especially after Beijing imposed a national security law on Hong Kong in 2020 after the city was rocked by sometimes violent anti-government and anti-China protests."

"China has also never renounced the use of force to bring Taiwan under its control, and in 2005 passed a law giving the country the legal basis for military action against Taiwan if it secedes or seems about to."

It is more like, "take my reunification offer, or else I hantam you kau kau!" So far Taiwanese (oh my bad, Chinese Taipei) side are not buying it, preferring the status quo.

2027 should be an interesting year...

No need to move to Africa, China is rapidly developing its space industry to move production facilities to Mars! Come and think about it Martian labour is much cheaper and so is material cost! (do you know Martial rubber is best in the Solar system?)

@kk7198 1.50 is a good buy. Would be lucky to be able to buy at 1.4X.

I am a bottom fisher. When I have some extra cash, I add more Harta (and Kossan).

@YourQuirkyWays29 I am not implying that TG may be lying to investor (it will do them no good). However I do not think that ASP will on a path to recovery starting from October (If ASP drops steeply from June to August, a small 5% increase from such a drastic drop doesn't mean things are starting to look better). Keep in mind Topglove CEO anticipates a challenging 2023, which means that it may take awhile for supply and demand to equilibrate.

My biggest concern is the QtoQ drop in revenue. Assume that there's no change in production mix and in production capacity, a drop from 1.464b to 0.990b represents a ~30% drop in revenue and in ASP. Of course that depends on strong assumptions, but to me it's somewhat worrisome.

Also I am skeptical that ASP may increase in October. Would be nice if it does, but I would rather wait for confirmation in the next QR :)

Based on Topglove QR, I expect Harta's QR to be similarly bloody (I am no expert, lol!). On the other hand, given the massive selloff yesterday, prices today remained stable (quite difficult for price to go below RM1.40).

So much noise here as if Harta is going to PN17. Good lah, lower price means better opportunity to average down. When life gives you opportunity to buy good company for cheap, buy more, not the other way around, correct?

Also must thank @NatsukoMishima for scaring small retailer and keep prices low. @NatsukoMishima you should also thank the trolls at Dnex for keeping your favourite counter stable at 0.825!

@WinBigOrLoseAll Of course must thank EPF for throwing Harta until current price. Never thought can average down to below RM3. If really go to 1.20 even better, can aim to average down below RM2!
Would be nice if by end of this year can go back to RM2, but no rush, they're all for long-term dividend, lol!

@investor2021trading you did well. Bought mine @1.62 few days ago and thought it was a steal, lol!

To me, even if I enter now, the downside risk is small. If Harta really goes to RM1.2 (JPM target), I'll just average down some more, no big deal.
If topglove QR happens to be good (higher revenue and utilisation rate), price may start to trend up. To me also good. Can start taking some profit.

All I can say is because of cukai makmur, expect Topglove QR to be very bloody (banyak merah). Very likely that prices may trend lower because of this report. Those looking to buy may consider doing it during bloodbath. As for me I'm just going to hlod like a mor-ron =)

Two possibilities
1. Topglove QR scare some retailers (extra red because of cukai makmur). Good time to buy low. But be wary of further downside.
2. Topglove QR shows signs of recovery (higher revenue and utilisation rate), big funds may enter. Price trends up.

First event more likely IMO.

How low can rubber go? I wait until neck long2 also cannot get RM.9X. At current price it is a safe buy.

Today is ex-dividend date. Funny thing about M'sia stock market is that some people sell after receiving dividend. Check market trend, and buy when it starts to trend up.
Unless there's some good news, prices are going to stay low.

Been catching falling knife since mid 2021, that's why still miskin, lol!

Knife catching? See where we are now. Ccpool send our regards

@investor2021trading Yes Harta and Supermax have reported positive profit since paying windfall profit. The key take with Topglove QR is to see if the oversupply problem continues to worsen or improves. Would be a good news if we see an increase in utilisation rate and revenue (net profit will be worse because of windfall tax).

Seeing that Harta was able to maintain above 1.5X in the past 2 weeks, I've bought more and average down my price. There's risk to downside, but how much lower can it go? 1.20? 1.00?

There is an upward trend, but the "disappointing Topglove QR" may reverse the trend in the short-term (disappointing because some investor only see red and fail to take into account cukai makmur).

price trending upwards. see can sustain throughout afternoon.

Why so angry @NatsukoMishima, today your Dnex did not go up ah? Harta today doing quite well hor. You wish your Dnex would go up by that much! Wahaha!

Dunno, wait for Topglove next QR in a week or so.

Huge selling queue @8.95. Which big fund dumping?

I will be very surprised if Harta makes gross losses. Looking forward towards Topglove next QR

I personally think 1.2 is unlikely (1.40-1.50 more likely) but in the short term the market can be very irrational, especially when EPF goes on a dumping spree and there isn't many buyers wanting to grab it. Even it it approaches 1.2, it shouldn't stay for too long. My gut tells me that by year end, as we get a more accurate estimate on when the oversupply problem ends, price may recover back to RM2~2.5

Again all these are pure speculation. Those who time the market correctly will make big bucks ( I am not one of them, lol).

Tempting to trust Chinese news at face value, but one should verify if those numbers are true. Nevertheless more producers is good for us too. China's demand has driven price up, so hopefully they can keep durian prices competitive and prices at a reasonable value.

Agree with @gohkimhock. While price has stabilised, the risk of falling to a lower level (RM1.20) remains high now. While prices are currently cheap, patient shareholders should wait for an upward trend before investing into gloves.

Also appreciate @NatsukoMishima comments here. I realised that whenever Dnex share price drops, NatsukoMishima graces us with his thoughtful opinion.

There's no rush to buy. Holders like me will continue to hlod. Consider buying when there's light at the end of the tunnel (the oversupply problem has been resolved), or when price started to trends upwards.
You can consider buying it now, but you face a likely risk that price trends downwards. There's real risk with bottom fishing, and you should be prepared to hold it for long term (it's like buying Airasia or Genting shares during a pandemic).

Nice, did not expect it to go up all of a sudden.

That's why I am interested in Topglove QR. Will revenue continue to drop, or will we see an uptick in revenue/profit?

@investor2021trading of course got hope, that's why still holding.
However who knows when the situation will improve. If you're optimistic, it may improve by end of this year. If you're pessimistic, dark times may continue through 2023/2024. If you're not sure like me, buy some today, and buy more when prices fall.

For most investors, I would not recommend Harta, or any of the glove companies. You don't know how long your funds will be tied up, and the sector may or may not recover. But for me, it is more of a gamble, casting my chips in hopes of getting (a little) rich. Currently setting aside 10%-15% of my portfolio for this gamble, so willing to take a loss in the unlikely event it all goes kaput.

Why are we here? We're either day-traders, reverse short-sellers, or bottom-fishers

I am on the second boat too. I can understand why many people are tempted to choose the first option (buy low, sell during a rebound), but I think it is extra risky to go into gloves given current sentiment. When will it rebound, next month? next year? next decade? who knows... If I were to trade short term, I would rather hitch a ride on an up-trend counter/industry (make sure to cabut before it all comes crashing down).

In that case, there's no rush. For those wanting a bit more activity, Topglove QR should come out in about two weeks. Unless we see light at the end of the tunnel, expect the selloff to continue.

OHCHR Assessment of human rights concerns in the Xinjiang Uyghur Autonomous Region, People’s Republic of China

https://www.ohchr.org/sites/default/files/documents/countries/2022-08-31/22-08-31-final-assesment.pdf

Even if you think Harta is worth more than its current price, there's no rush to catch a falling knife. Glove sentiment remains poor for quite some time. Set aside some funds and enter whenever price falls below a certain threshold. In the words of CharlesT, welcome to the "reluctant FD holder club"

In times like this only a few well-managed companies can managed to make a "reasonable profit" (still below pre-pandemic profit).
While China may have a cost advantage in terms of energy cost and wages, they're not having a good time either. Just look at the share price of Bluesail and Intco Medical. To me the end of a pandemic and rising energy/material prices from the Russian-Ukrainian war may have a bigger effect on the global market. Of course the glove market may recover by end of 2023/2024, but not many companies may survive the ordeal.
I am placing my chips on Harta/Kossan. Wish me luck, lol!

@LeslieGoh
A year ago, I thought RM5 was the cheapest.
Six months ago, I thought there's no way it will reached below RM4.
A month ago, RM2.5 should be the bottom right... right?

If someone tells me right now that RM1.5X is the cheapest right now, you can imagine why I am a little skeptical, lol.

I do hope for a strong rebound @RM1.60. But at the same time, I can understand if it approaches RM1.20
________

If we don't buy at this cheapest time, when we going to acquire?

A year ago when someone tells me Harta will go below RM3, I'll laugh at their face. Now I deserved to be laughed at.
I don't have much free cash myself, most likely have to sell other counters to free up cash. Expect more activity around Topglove next QR announcement.

@YourQuirkyWays29 sure, you can stay for a month. I expect Topglove QR is going to be "below expectation". Inkambing all the sell calls.
Funny isn't it, glove companies are still in the green, yet investors act as if they're all going to PN17. Still gotta resist the temptation to catch falling knife, kena potong manyak kali lah.

testing 1.5X price range.
Given current sentiment, with no strong uptrend, downtrend is very likely. Sit back, relax, and wait for lower entry price.