KLSE (MYR): KOSSAN (7153)
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Last Price
2.02
Today's Change
+0.01 (0.50%)
Day's Change
2.01 - 2.04
Trading Volume
4,666,500
Date | Open | High | Low | Close | Change | Volume |
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Kenanga share got short kaw kaw ... hahaha ..
This IB always down play glove stock. Happy their stocks get trashed. The trashing will continue after the suspension. 😂
https://www.thestar.com.my/business/business-news/2024/08/29/bursa-malaysia-suspends-idss-for-kenanga-investment-bank
3 weeks ago
More tariff is coming ... Canada. Hopefully they target on gloves too and EU follow suit.
https://insidetrade.com/trade/our-most-read-canada-targets-chinese-evs-steel-and-aluminum-hints-more-come
3 weeks ago
Yeah ... F them big time. 😂
ChandranG
What goes around, come around. Your turn to get shorted, Kenanga 😁
3 weeks ago
Margma sees slightly higher glove demand amid mpox outbreak
https://theedgemalaysia.com/node/725317
3 weeks ago
I think USTR put on hold the tariff announcement after Trump-Harris debate. So Trump won't have the bullet to use in the debate.
1 week ago
USTR increase tariff on glove and facemask from 25% to 50% at delayed date (Didn't mention exactly when). Facemask was supposed to be in 2024 and glove 2026. So when? 2025?
https://www.reuters.com/business/us-locks-steep-china-tariff-hikes-many-start-sept-27-2024-09-13/
1 week ago
Considering the public comments, the specific direction of the President to increase
tariffs on medical gloves no less than 25 percent in 2026, and the advice of the Section 301
Committee, particularly agencies involved in U.S. medical preparedness, the U.S. Trade
Representative has determined to increase the rate of additional duties on medical gloves to
50 percent in 2025 and to 100 percent in 2026
From ustr website. Pls verify
1 week ago
GOOD NEWS GUYS!!!
"Considering the public comments, the specific direction of the President to increase
tariffs on medical gloves no less than 25 percent in 2026, and the advice of the Section 301
Committee, particularly agencies involved in U.S. medical preparedness, the U.S. Trade
Representative has determined to increase the rate of additional duties on medical gloves to
50 percent in 2025 and to 100 percent in 2026."
https://ustr.gov/sites/default/files/Section%20301%20Modifications%20Determination%20FRN%20(Sept%2012%202024)%20(FINAL).pdf
1 week ago
Happy to share good news :) let's see how the market reacts. Will take a few days for analysts to absorb
1 week ago
Gloves Sector Flash Update (UOBKH)
USTR Raised China Surgical Gloves Tariffs to 50-100%
In a 105-pages official announcement just released, the Office of the United States Trade Representative (USTR) announced final modifications on the statutory review of earlier tariff actions on China.
This is an update from earlier proposed modifications announced in May 2024.
Key updates are on: new timing and tariffs rates on face masks, medical gloves, needles, and syringes. Also includes: i) a proposal regarding coverage of additional tungsten, wafers, and polysilicon tariff lines; ii) an exclusion for ship-to-shore cranes ordered prior to May 2024; iii) an expansion of the scope of the machinery exclusions process; iv) and modification of the coverage of proposed exclusions for solar manufacturing equipment.
To recall back in May, US increases higher tariff of 25% (from current 7.5%) on China’s rubber medical and surgical gloves’ exports beginning 2026.
The tariffs on China medical gloves are now raised to 50% in 2025, and 100% in 2026. Refer to page 18-19 of the under medical gloves segment, “The U.S. Trade Representative has determined to increase the rate of additional duties on medical gloves to 50 percent in 2025 and to 100 percent in 2026.”
This higher tariffs were not entirely a surprise, as we’ve been taking a leap of faith and highlighted possibilities of further detrimental policies towards China’s exports. Our contrarian OVERWEIGHT rating on the Malaysian glove sector were also largely premised on such potential scenario.
This steep tariff hike modification on China gloves undoubtedly solidify Malaysian glove industry’s market leader position and allays earlier concerns on market share losses due to stiff competition.
We expect share prices of Malaysian and Singapore glove stocks to strongly react towards this newsflow._
Maintain BUY on Harta (RM2.42/TP:RM3.66); Top Glove (RM0.915/TP:RM1.45) and Kossan (RM1.83/TP:RM2.42).
Next meaningful sector event will be Top Glove’s 4QFY24 results releasing on 10th October.
1 week ago
I'm wondering if Canada and EU will follow on this tariff hike? Canada has the highest chance. EU is still trying to buddy with China bcoz their luxury goods export. But China already slow a lot in luxury purchase.
1 week ago
Posted by dompeilee > 2024-01-08 08:48
I didn't manage to buy Kossan @ $1 BUT my last purchases were @ $1.2932, $1.2767 & $1.384 in June & July 2022 which more than doubled my earlier stake & lowered my average to $1.8003 & earned $322.75 in dividends to boot!🤗
After selling most of my Kossan a little too early in Jan & Mar, I SOLD 80% of my remaining stake @ $2.25 this morning.
1 week ago
Next counter to go up outside of gloves counter are their proxy, FLEXI - one of the main supplier of glove manufacturing line
1 week ago
Hopefully foreign investors push it up higher. Good timing since foreigner investors coming into Msia market.
1 week ago
I suspect this will not be a one day show. Will not swing too soon as the momentum is just right with feds interest rates decision on wed. The closing few hours volume continue to come in. Good luck for tmrow.
1 week ago
Looking at EU and Canada tariffs on China ev and I am sure other industry will follow the precedent set by US administration. They always follow the big brother. Will scout around for the news.
1 week ago
Did some research on this matter too last night. Couldn't find any ... just on EV. My suspicion is that China is experiencing deflation and tariff is necessary on China to protect markets in Europe and US. But it's long shot. US tariff is pretty good impact for now.
KimSua
Looking at EU and Canada tariffs on China ev and I am sure other industry will follow the precedent set by US administration. They always follow the big brother. Will scout around for the news.
1 week ago
Yes, I'm observing the trend until the election. Earnings won't show up on the tariff until 2025.
KimSua
I suspect this will not be a one day show. Will not swing too soon as the momentum is just right with feds interest rates decision on wed. The closing few hours volume continue to come in. Good luck for tmrow.
1 week ago
Ustr is a 4 Yr review cycle but one analyst mentioned 2 and down play the news. I suspect Trump to win and seal this until end 2028. China will not be able to continue to subsidize glove industry and retarget their focus. ASP will continue to rise and allow US manufacturers to start production, by then Malaysian glove industry will have a windfall in the next 4 yrs years at least. Let's see how is the profit taking today and see how foreign funds read the news.
6 days ago
Yeah. Good analysis. Expect it to go up and down from day traders. By the 4 years end, China glove manufacturers could had been battered badly for Malaysian manufacturers to thrive even longer.
6 days ago
Why IB never told u that China will set up factory at cheaper countries to bypass tariff ??? Try imagine what will happen to malaysia glove if they announce this step !
6 days ago
Yesterday here maths +0.42 (22.95%)
Today here -0.18 (8.00%)
Still profit 0.24 Sen
Mana rugi using maths
6 days ago
In Harta forum is already told you US target China manufacturers even if their products come from Mexico or Indonesia. And here you are again talking BS.
NatsukoMishima
Why IB never told u that China will set up factory at cheaper countries to bypass tariff ??? Try imagine what will happen to malaysia glove if they announce this step !
6 days ago
This nut modus operandi is he has unloaded his holdings then will go to every glove forum to spread negativity to create fear to push down the price so that he can load the holdings again and repeat the action
6 days ago
With Kossan securing good earnings in coming years, I'm pretty sure they can reward good dividend too from the Rm2bill holdings.
6 days ago
Nut psycho favourite thing to do is promote his highly speculative counters and talk rubbish about stocks he doesn't hold. He loves mocking others especially when they are losing money.
6 days ago
Let day traders clear their holdings. Long term investors can hold until Q125 to see the effect of the tariff.
Q3 & Q4 2024 is pretty much irrelevant.
5 days ago
"Attractive Dividend policy"? Hahaha.... Hartalega only recently give dividend since their last dividend in 2022.
Kossan has been constantly giving dividend. Sell your Hartalega and buy Kossan. Kossan should be same value as Hartalega.
WDCQ_I_am_legend
https://youtu.be/tkuYRBsxxxA
5 days ago
Republican U.S. Senator Marco Rubio on Thursday proposed barring Chinese manufacturers from evading tariffs by setting up factories in other countries like Mexico, Vietnam or Malaysia.
Rubio accused Chinese manufacturers of shifting production to other countries that face lower U.S. tariffs, saying it allowed them "to evade tariffs and flood the U.S. market with cheap goods." A House committee raised concerns last week about a Chinese auto parts firm that may have sought to evade tariffs.
4 days ago
ChandranG
Indeed, the management will bring out the Mpox topic in the next briefing
3 weeks ago