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Good days are over for glove stocks?

THE share price rally in glovemakers on Bursa Malaysia appears to have been exhausted as shares of the companies failed to recover losses made on Tuesday after logistical concerns were raised on the distribution of the potential Covid-10 vaccine candidate by US drugmaker Pfizer Inc and German biotech firm BioNTech SE.With money moving into cyclical counters like banks and utilities, the seven major-listed rubber glove counters, which lost a total of RM19 billion in market capitalisation on Tuesday, struggled to retrace losses yesterday.Malacca Securities Sdn Bhd head of research Loui Low said the announcement of the success of Pfizer’s Covid-19 vaccine on Monday has fundamentally changed the way investors invest and trade at this juncture. ....

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Cover Story 2: How much did Malaysia's top guns take home in 2020?


THE Covid-19 pandemic has caused many companies to be in financial distress, forcing some to temporarily shut down factories and operations for at least two months from mid-March in 2020 and experiencing lower demand after that.
With numerous firms seeing a decline in earnings, and many falling into the red, one wonders how much Malaysia’s top brass were paid in 2020 versus the year before.
According to data compiled by The Edge, among the top 50 companies by market capitalisation, the heads of 15 firms took a pay cut, 13 saw a bump in their paycheques and only two those of Supermax Corp Bhd and Time dotcom Bhd had no change in pay. ....

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Healthcare, industrial products and services continue to support KLCI


KUALA LUMPUR (May 4): Bursa Malaysia ended the morning trading session on a firm note as gains in heavyweights  particularly the healthcare and industrial product and service counters  continued to support the barometer index.
At the lunch break today, the benchmark FBM KLCI had expanded 6.18 points to 1,596.91 after opening 0.94 of a point better at 1,591.67.
It moved between 1,587.87 and 1,597.42 throughout the morning session.
On the overall market, gainers continued to dominate at 523 versus 405 losers, while 463 counters were unchanged, 761 untraded and six others suspended.
Market volume stood at 4.07 billion worth RM2.2 billion. 
A dealer said the healthcare counters, especially the rubber glove makers, continued to trend higher as Covid-19 resurgence concerns lingered. ....

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