Shares of rubber glovemakers up after COVID-19 declared a pandemic
KUALA LUMPUR: Rubber glovemakers; Hartalega Holdings Bhd and Top Glove Corporation Bhd saw their shares traded higher today after the World Health Organization (WHO) declared the coronavirus (COVID-19) outbreak as a pandemic.
As of last night, over 120,000 people across 114 countries throughout the world have been infected with rapidly spreading COVID-19 virus with Malaysia recorded 149 cases.
In its note today, Public Investment Bank said the Health Ministry has collaborated with private laboratories to provide COVID-19 diagnostic test service to individuals that do not fall under the patient under investigation criteria.
The IHH and KPJ are among the selected few to rollout this on-demand service locally.
“Overall, we are positive on this development albeit the contribution being still small to the overall healthcare providers’ topline presently,” it said.
The research house has reiterated its “overweight” call on the healthcare sector.
At 10 am, shares of Hartalega rose 18 sen to RM6.66 with 3.43 million shares transacted while Top Glove jumped 37 sen to RM6.65 with 8.60 million shares changes hands.
IHH, however, slipped two sen to RM5.57.
Bernama
