Shares of rubber glove makers outpace Tesla’s
Malaysian glove makers add about $26bn in combined market value in 2020 as the world clamours for protection
19 July 2020 - 18:17
A low-tech stock trade is making Tesla’s dizzying rally look like an underperformance.
In Southeast Asia, makers of rubber gloves are attracting more investor fervour than even the electric cars and flame throwers of Elon Musk. Top Glove is up 389% this year in Kuala Lumpur, the most on the MSCI Asia Pacific index, while Supermax has leapt more than 1,000%, compared with Tesla’s 259%. That’s due to the boom in glove demand thanks to the coronavirus pandemic, aided by a short-selling ban in Malaysia until year end...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.