Rubber Gloves Still Elastic? China's Easing Policy Has No Effect
'Playing hide-and-seek is not the best. I don't know how many thousands died but only 10 were reported.'The easing of the zero-Covid policy in China appears to be opening the door for shares of local rubber glove companies to soar, following an increase in cases of infection there.In general, the Chinese government began to relax policies after the demonstrations last month and as a result there was a sudden increase in cases.According to sources, there were 393,067 cases involving Covid on December 22 but the actual data cannot be confirmed because the Chinese government no longer releases official statistics.However, from a cursory glance it is clear that there is an increase in cases of infection with the British health firm Airfinity there confirming the occurrence of 5,000 deaths a day in China.So it's no wonder that health-themed stocks and rubber gloves are back in the spotlight, especially since winter in the West is often associated with the spread of disease.In the early morning trading session on Tuesday, Top Glove shares emerged as the 2nd most active counter with 35.9 million shares changing hands to bring a price jump of 7.93% to 88.5 sen.Careplus Group Bhd also surged 7.61% to 49.5 sen with 14.9 million shares changing hands while Hartalega Holdings Bhd rose 5.92% to RM1.79 with 8.6 million shares traded.In addition, Supermax Corp Bhd also saw 6.3 million shares change hands to bring the price up 7.7% at 90 sen.
'Playing hide-and-seek is not the best. I don't know how many thousands died but only 10 were reported.'
The easing of the zero-Covid policy in China appears to be opening the door for shares of local rubber glove companies to soar, following an increase in cases of infection there.
In general, the Chinese government began to relax policies after the demonstrations last month and as a result there was a sudden increase in cases.
According to sources, there were 393,067 cases involving Covid on December 22 but the actual data cannot be confirmed because the Chinese government no longer releases official statistics.
However, from a cursory glance it is clear that there is an increase in cases of infection with the British health firm Airfinity there confirming the occurrence of 5,000 deaths a day in China.
So it's no wonder that health-themed stocks and rubber gloves are back in the spotlight, especially since winter in the West is often associated with the spread of disease.
In the early morning trading session on Tuesday, Top Glove shares emerged as the 2nd most active counter with 35.9 million shares changing hands to bring a price jump of 7.93% to 88.5 sen.
Careplus Group Bhd also surged 7.61% to 49.5 sen with 14.9 million shares changing hands while Hartalega Holdings Bhd rose 5.92% to RM1.79 with 8.6 million shares traded.
In addition, Supermax Corp Bhd also saw 6.3 million shares change hands to bring the price up 7.7% at 90 sen.
