=MARKET BUZZ: Malaysia's Glove Makers Jump On Strong Earnings Hopes
KUALA LUMPUR (Oct 12) -- Malaysia's largest glove makers Top Glove Corporation and Hartalega Holdings jump 6.7% and 5.5% on hopes of better-than-expected earnings. Top Glove, which announces 4Q numbers tomorrow, at MYR6.03, its highest in a year, while Hartalega at MYR7.32, highest since July 4. "Investors are betting that earnings (of glove makers) will rebound in the next two quarters, following weaker-than-expected performance in the first half. Sentiment is turning around as prices are stabilizing," says analyst at Kuala Lumpur investment bank. Expects Top Glove to post 10%-20% sequential growth in net profit. Supermax Corporation +1.7% at MYR1.79, Kossan Rubber +1.3% at MYR6.99, while Comfort Gloves gains 3.2% to MYR0.98.
- By Alexander Winifred; Alexander.Winifred@nikkeinewsrise.com; +60320267363
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