More glove maker stocks may join Malaysia's benchmark index on Covid-19 rally

KUALA LUMPUR - Malaysian glove makers are threatening to supplant the once-mighty gaming companies in the nation's benchmark equity index, thanks to the spectacular rally in their shares.

The likely entrants are already worth more than some of the gauge's members by market value after the boom in glove demand during the coronavirus pandemic sent their shares to dizzying heights. Supermax has soared more than 1,400 per cent this year, while Kossan's stock has more than tripled. With the new additions, glove makers' weighting in the gauge will jump to about 20 per cent from around 15 per cent at present, according to the two analysts.

Malaysia this week imposed restrictions on movement in its capital city of Kuala Lumpur, administrative capital Putrajaya and in the states of Selangor and Sabah, as the country battles a spike in virus cases. The nation reported 589 new cases on Thursday .

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