Glove makers dominates Bursa’s biggest gainers yesterday

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30-11-2021 – Here are some Investing and Economic insights:

  • Glove makers make comeback to investors radar with strong rebound amid Omicron fears – The Edge.
    • Share prices of rubber glove makers jumped yesterday amid the emergence of the Omicron Covid-19 variant that has sparked renewed interest in the sector, led by the top four glove makers.
    • Top Glove, the world’s largest rubber glove maker, surged 55 sen or 20.83% to close at RM3.19 — its highest in more than two months.
    • Hartalega, which also closed at its highest in more than two months at RM6.40, jumped 75 sen or 13.27%.
    • Two other, Supermax and Kossan also made significant gains.
  • Singapore is open to fresh proposals from Malaysia on the KL-Singapore High Speed Rail (HSR) project.
  • Oil rebounded by almost 5% on Monday to US$76 a barrel as some investors viewed last Friday’s slump in oil and financial markets on concern about the Omicron coronavirus variant as overdone – The Star.
  • Malaysia’s exports in October surged 25.5% year-on-year (y-o-y) to another record-high monthly value of RM114.4 billion. It beats the 25% growth forecast by economists in a Bloomberg poll. The export growth was even better than the already impressive 24.7% growth recorded in September – The Edge.

 

Definition of the Week: Basis Point

1 basis point = 0.01%.

100 basis points = 1.00%.

It is a unit of measure used in finance to describe the percentage change in the value of financial instruments.

Example: Bank Negara may increase the OPR for 25 basis points.

 

 


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