Southeast Asia Glove Makers Likely to Capitalize on Industry Tailwinds -- Market Talk

Dow Jones

2024/10/07

0112 GMT - Southeast Asia's glove makers appear to benefit from improved demand visibility, supply resumption and stabilizing average selling prices, though a weaker dollar poses challenges to product exports, RHB IB analyst Oong Chun Sung and team say in a note. The coming U.S. tariff hike on China gloves is expected to help earnings of glove makers under their coverage as trade is diverted. The sector may also see restocking in 2H as demand-supply balance improves, they add. RHB maintains an overweight rating on Malaysia's rubber products sector, pegging Hartalega Holdings, Kossan Rubber Industries and Riverstone Holdings as its top sector picks.(yingxian.wong@wsj.com)

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October 06, 2024 21:12 ET (01:12 GMT)

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