KUALA LUMPUR (Aug 13): After yesterday's heavy selldown following news of Russia's Covid-19 vaccine, the big glove counters were back on the top gainer list this morning.

Supermax Corp Bhd led the gains among the big four glove stocks, jumping as much as 8.16% or RM1.54 to RM20.42. At 10am, it had pared some gains to RM19.82, but was still higher by 4.98% or 99 sen from its last closing price of RM18.88.

Meanwhile, its structured warrants SUPERMX-C80: CW Supermax Corp Bhd (CIMB) topped the gainer list on the local bourse this morning, increasing by 19.44% or RM2.36 to RM14.50.

The rally in Supermax's share price today was supported by the MSCI Global Standard Indexes’ announcement that Supermax and Kossan Rubber Industries Bhd will be added as constituents of the indices at the close on Aug 31.

The good news also lifted Kossan’s shares price by as much as 5.03% or 76 sen to RM15.86, before it pared some gains to RM15.50. It was the fifth top gainer on Bursa Malaysia this morning.

As for the other big boys, Top Glove Corp Bhd and Hartalega Holdings Bhd were ranked third and fourth respectively on the top gainer list.

Top Glove gained as much as 5.55% or RM1.36 to RM25.86, before it pared some gains to RM25.10. Still, it was up by 2.45% or 60 sen from yesterday’s closing price of RM24.50.

Meanwhile, Hartalega rose as much as 5.46% or 88 sen to RM17, before it pared some gains to RM16.52, gaining 2.48% or 40 sen. 

Meanwhile, the advances by smaller-cap glove companies were led by Careplus Group Bhd after it gained as much as 10.95% or 38 sen to RM3.85. It retreated slightly to RM3.62, but was still up 4.32% or 15 sen at 10am.

This was followed by Rubberex Corp (M) Bhd, rising as much as 9.64% or 46 sen to RM5.23, before giving up some gains to RM5.08. The counter was still 6.5% higher than yesterday’s closing price of RM4.77.

Comfort Gloves Bhd also climbed as much as 9.93% or 40 sen to RM4.43, before retreating to RM4.19, which was still 16 sen or 3.97% higher than its last closing price of RM4.03.  

At 10.45am, Bursa's Healthcare Index was up by 1.58% or 62.49 points at 4,010.98, compared with yesterday's closing of 4,009.28.

Yesterday, glove makers experienced a massive selldown on news that Russia had become the first country to grant regulatory approval to a Covid-19 vaccine after less than two months of human testing.

At a glance, such news does not bode well for demand for rubber gloves as the discovery of a Covid-19 vaccine is expected to curb the spread of the global outbreak.