Malaysian stock market value close to overtaking Singapore on glove gains

KUALA LUMPUR - Thanks to meteoric gains in glove-maker stocks, Malaysia's equity market capitalisation is close to surpassing that of its richer neighbour Singapore.

"This is a reflection of the relative fortunes of the two economies and this divergence may continue for a while," said Mr Nirgunan Tiruchelvam, head of consumer equity research at Tellimer who has been tracking the region's markets for decades."Malaysia has integrated manufacturing industries like glove makers", while Singapore's economy is based on finance and property, he added.

In fact, Top Glove on Thursday unseated Public Bank to become the second most valuable stock on Malaysia's equity benchmark, after the former's stock surged more than 440 per cent. Another glove producer, Supermax, has leapt more than 1,100 per cent this year.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Hong Kong: Stocks close with gains[HONG KONG] Hong Kong stocks finished slightly higher Thursday, clawing back some of the big losses suffered the day before, with traders tracking China-US tensions and talks in Washington over a new stimulus package. Read more at The Business Times.
Källa: BusinessTimes - 🏆 15. / 51 Läs mer »

Retrenchments in tourism industry are 'inevitable' without resumption of mass market travel: Chan Chun SingSINGAPORE: Job losses in the Singapore tourism sector are 'inevitable' without mass market travel, but the Government will work with businesses ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »

Singapore stocks in the red after Wall Street slide; STI opens 1% lowerSINGAPORE shares slipped in early trade on Friday, tracking losses in the US markets overnight due to disappointing jobless claims data. Read more at The Business Times.
Källa: BusinessTimes - 🏆 15. / 51 Läs mer »