Malaysian glove stocks prosper!
Gloves are making a comeback
The US government has just announced an increase in import tariffs on Chinese goods from 7.5% to 25%, which will take effect in 2026.
This is great news for sellers in the US $14 billion personal protective equipment (PPE) market!
Malaysian rubber glove manufacturers have always faced tremendous pressure from competition from China. According to a research report released by Bank of Malaysia Investment Bank Research on May 15, this is beneficial to the Malaysian glove industry because this policy announced by the US government makes Malaysian gloves more attractive in the US market.
In the US market, $TOPGLOV(7113.MY$Top gloves account for 17% of sales. $HARTA(5168.MY$Hetejia accounts for 50% of sales.
Analysts have raised the target price for top gloves to RM1.21 and Hetejia to RM4.36. $KOSSAN(7153.MY$The high-yield luxury goods industry was raised to RM2.70.
Source: Nanyang Siang Pao
Disclaimer: This content is for informational and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation endorsement. The reader shall bear any risk and responsibility arising from reliance on this content. Always conduct your own independent research and evaluation and consult professional advice if necessary before making any investment decisions. The author and related participants are not responsible for any loss or damage resulting from the use or reliance on the information contained in this article.
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