World’s biggest glove maker Top Glove Corp. surged by a record on Monday to lead an advance in medical wear companies for a second session amid bets the emergence of omicron coronavirus variant will boost demand for the industry’s products.
Top Glove Corp. jumped as much as 30% in Malaysia, adding to Friday’s gains of 17%. Its peer Hartalega Holdings Bhd. advanced as much as 24%, the most ever. Similar stocks listed in Singapore and Thailand also soared.
The two-day gains in glove makers are reminiscent of the eye-popping rallies seen by medical wear companies last year before vaccine rollouts, the economic reopening and forced labor allegations weighed on their outlook.