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KUALA LUMPUR (Dec 24): Supermax Corp Bhd, which traded as a component of FBM KLCI for the first time on Monday, is now the highest year-to-date (YTD) profit percentage among KLCI’s 30 stocks after go up more than 900% between January 1 and yesterday. Top Glove Corp Bhd came in second.
According to Top Glove’s latest investor filing, rubber glove maker Supermax’s share price had posted a gain to date of 917.81% based on the stock’s closing price of RM6.92 yesterday.
Top Glove, meanwhile, posted a YTD increase of 329.57% based on the share’s closing price at RM6.73 yesterday.
Another rival glove maker, Hartalega Holdings Bhd, came in third after its share price rose to date by 132.12% based on the share’s closing price of RM12.72 yesterday.
The inclusion of Supermax in the KLCI means that the company has joined Top Glove and Hartalega, both of which were previously included in the KLCI following the recent increase in the share price of rubber glove manufacturers due to the global pandemic of Covid-19.
Glove makers’ respective market capitalization has risen along with their share price, as the Covid-19 pandemic raised expectations of increased demand for rubber gloves to curb the coronavirus outbreak, providing better earnings outlook for these companies.
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