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KUALA LUMPUR: Recent selling pressure on glove makers saw Top Glove Corporation and Hartalega
Market capitalization contracted while its weighting on the 30-share FBM KLCI decreased.
At noon on Wednesday, Top Glove’s share price dropped 45 sen to RM7.19 and gave it a market capitalization of RM58.44bil. At current price, it is trading at a price-earnings (P / E) of RM48.51 times.
Its weighting on the KLCI had fallen to third place at 6.30, sharing it with Public Bank, after being in second place in recent weeks. At the top of the list is Maybank, followed by Tenaga Nasional.
As for Hartalega, it fell 66 sen to RM12.94 and gives it a market capitalization of RM44.35bil. It is trading at a P / E of 106.94 times. It has dropped to sixth place in the KLCI with a weighting of 4.73.
Supermax’s market capitalization declined to RM20.09bil as its share price fell 63 sen to RM7.78. His P / E is 96 times.
As for Kossan, he was the biggest loser of the day, drifting RM1.04 to RM11.46. At the current price, its market capitalization is RM14.65bil. It is trading at a P / E of 65.48 times.
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