HEADLINES

US tariff relief lifts glove, EMS stocks on Bursa

Hartalega, Supermax, SKP Resources among early gainers, but analysts caution industry headwinds may cap upside

12:48 PM MYT

 

KUALA LUMPUR — Glove makers and electronic manufacturing services (EMS) companies’ share prices rose at mid-morning following the lower United States (US) rate announced by Washington earlier today.

At 11.52 am, glove manufacturer Hartalega rose two sen to RM1.48 with 5.49 million shares traded, Supermax Corporation added one sen to 57.5 sen with 733,080 shares changing hands, while Kossan was flat at RM1.37 with 381,300 shares traded.

For EMS, SKP Resources and EG Industries added one sen each to 95.5 sen and RM1.15, respectively, with 952,800 and 3.26 million shares changing hands, respectively.

In a note today, Hong Leong Investment Bank Bhd (HLIB) said Malaysia’s 19% tariff rate, in line with some regional peers, will give it a competitive edge.

“Despite the positive outcome over US tariffs, EMS and glove makers are still grappling with industry-specific headwinds, which could limit further gains.

“We also retain the 2025 FBM KLCI target at 1,640, based on a 14.5 times price-to-earnings ratio,” it said. — August 1, 2025

Topics

 

Popular

‘Very hurtful’: Chief justice exposes legal failures driven by distorted Islamic views

Tun Tengku Maimun Tuan Mat laments misinterpretations of faith that distort justice in high-profile rulings, cites Indira Gandhi and Nik Elin Zurina cases

ASNB announces RM2.18 bil dividend payout

ASB 2 declares distribution of 5.50 sen per unit to 614,309 unitholders while ASM declares five sen per unit to 740,513 unitholders

Petronas staff to be shown the door to make up losses from Petros deal?

Source claims national O&G firm is expected to see 30% revenue loss once agreed formula for natural gas distribution in Sarawak is implemented

Related