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Eye-popping rally in Asian glove-maker stocks will continue, says Citi

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Analyst says Covid-19 will drive unprecedented growth in sales and profits for the sector. FMTNews TopGlove

The Covid-19-led boom in demand for rubber gloves is not showing any sign of abating.

Top Glove Corp and Kossan Rubber Industries can each climb by about 75% over the next 12 months as the pandemic drives unprecedented growth in sales and profits for the sector, analyst Megat Fais wrote in a note yesterday. Shares of Top Glove, the world’s largest maker, have risen more than 400% this year while those of smaller rival Supermax Corp have jumped over 1,300%.

 

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