Glovemakers rally as US plans higher tariffs on Chinese gloves

Quick Summary:

KUALA LUMPUR: Rubber glove stocks emerged as both top gainers and among the most active on Bursa Malaysia in early Tuesday trade after the US announced it would raise tariffs on Chinese gloves.

Top Glove and Supermax are given a "market perform" rating, with target prices of RM0.97 and RM0.83, respectively.

However, it may not have a significant incremental impact on the 2026 forecast.“This will benefit most Malaysian players, albeit biased towards Hartalega and Kossan.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaUnited States

Topics: Top Glove Stock on the Move Tariff Glovemaker Hartalega Glove USTR /Business/Business News Kossan

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-17 @ 10:27:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 535 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22556498

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 30 posts per day

Year Established: 1971

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