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Top Glove stock jumps by 30% amid Omicron variant concerns

Bloomberg
Bloomberg11/29/2021 4:47 PM GMT+08  • 1 min read
Top Glove stock jumps by 30% amid Omicron variant concerns
Top Glove Corp. jumped as much as 30% in Malaysia, adding to Friday’s gains of 17%.
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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.

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