Despite the very fact that the big 4 glove counters are hit by the closures of factories in Selangor due to EMCO. 2nd-tier glove counters(ie Comfort, Rubberex and Careplus) did not stand to benefit from this particular news at all today. Rubberex and Careplus closed slightly lower and Comfort closed unchanged, supported in a small part on the last day of cd.
Why? In the eyes of mkt operators, all glove counters are treated just like one big family and prices usually move in the same direction.
@Perakian u can say that before..but today nobody relate MCO with glove demand anymore..MCO or not, demand & supply is still in the same tune..the only MCO that will lure in big money into glove stock is full total MCO ala MCO 1.0, because sentiment will drive the bull ride....
....which is now a gone case as gov don't have any plan for total full lockdown & opted momre on vaccine speed up
Posted by TheContrarian > Jul 8, 2021 6:51 PM | Report Abuse My first batch 84.5 sen, my second 83 sen and today my third 81 sen.GOOD MOVE. I DID THE SAME
Today, some funds were rotated into the index-linked glove counters to prop up the KLCI from dropping below 1,500 pts. It is still too early to tell if this is a sustained rally for glove counters yet. Got to see the closing today and next week.
it is possible Glove game comeback ... not talking about Malaysia but worldwide now case rise up ... demand for glove never stop since last year and tauke making big money ...
Rrex factory in Perak right? Still operating. Those big 4 closed but up today. I told b4 no matter what happened if the players r in, d price will go up n vice versa. Buy low sell high 4ever n ever. All that goes up will come down n vice versa. Tq.
Regional markets are moving higher this morning on US mkt's lead last Fri. But KLCI index is down, with a market breadth ratio of about 2 losers to 1 gainer. Market sentiments are still poor overall due to a variety of factors, eg political uncertainty, EMCO and higher Covid cases reported.
Funds decided to take profit this morning on the index-linked glove counters that they pushed up last Friday. Rubberex also closed lower this morning.
Glove counters may need a much stronger catalyst to move up higher nowadays.
EMCO in Selangor /KL affecting glove production. 50% of Malaysia own glove production comes from Selangor factories hit by the lockdown . TG said they had to reschedule their shipments dates.
With political uncertainty and EMCO, any price rally tends to be short-lived in nature. Not only glove counters, recovery plays like steel counters have pulled back at least 35% generally from the high this year. -------------------------------------------------------------------------------- John1234 Jun 28, 2021 10:39 AM Mkt is full of cheap bargains these days. Be it steel, technology, glove or otherwise. Bargain-hunters can afford to take time to pick and choose what to buy for the next mkt upswing
government ought to order banks to waive interest during deferment period to help cash shortage borrowers, this is social responsibility and moral issue,
Politician...not a single nation has succeeded in curbing the spread of the virus,... uum, no worry then since we are among the failure. Maybe should celebrate as the number cases is still below 10000 despite intensified efforts in testing, and dead number remains lower than US etc. Always feel proud of gov and boleh spirit. People bad news is a good news for gloves. Good news for management and bod ie high remuneration and low dividend is bad news for investors.
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Posted by 8888_ > 2021-07-07 11:27 | Report Abuse
Cancel PP Ruberex back >RM 1?