Top Glove, the world's largest glove manufacturer, saw its shares rise 3.5% to RM1.20 on Friday. This came after company management expressed optimism for an earnings recovery in its upcoming financial report, citing improved market demand.
Top Glove Corp Bhd's shares gained 4 sen on Friday, closing at RM1.20, with over 50 million shares traded. Market sentiment towards the company's prospects turned optimistic following reports that its management expects an earnings recovery in the upcoming second-quarter financial report. Global glove demand, after a prolonged downturn, has recently shown signs of stabilization, with average selling prices (ASPs) also seeing a slight rebound. Analysts suggest that with inventory normalization and improved operational efficiency, the glove sector might be in the early stages of a cyclical recovery. Investors will closely monitor its earnings report for confirmation of this recovery trend.
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