Rubber glove makers led Bursa Malaysia’s top gainers
Top Glove Corp Bhd jumped RM2.24 to RM15.54, Hartalega Holdings Bhd added 64 sen to RM13.18, and five peers also rose as global demand for medical gloves stayed strong during the COVID-19 pandemic.
Source: Bernama · July 21, 2026 at 8:29 AM · AI-assisted report
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KUALA LUMPUR, 21 JULY 2026 —
Rubber Glove Makers Lead Bursa Malaysia Gainers as Global Demand Remains Robust
Market Impact
KUALA LUMPUR, June 1 — Rubber glove manufacturers dominated Bursa Malaysia’s top gainers’ list on Monday, as sustained global demand for medical gloves amid the COVID-19 pandemic lifted share prices across the sector.
Top Glove Corp Bhd surged RM2.24 to RM15.54, while Hartalega Holdings Bhd added 64 sen to RM13.18. Rubberex Corp rose 98 sen to RM4.54, Comfort Gloves gained 58 sen to RM4.20, Adventa improved 52 sen to RM2.28, Kossan Rubber Industries added 43 sen to RM9.13, and Careplus rose 42 sen to RM1.82. Collectively, Top Glove and Hartalega contributed 14.94 points to the FBM KLCI composite index.
The rally reflects the sector’s resilience despite broader market volatility, driven by persistent healthcare needs worldwide. The Malaysian Rubber Board (MRB) has projected that Malaysia will control 65% of the global rubber gloves market in 2020, up from 62% previously, potentially generating an additional RM3 billion in export revenue. This growth is contingent on pandemic developments and sustained procurement by global buyers.
Historically, Malaysia has been a dominant player in the rubber gloves industry, contributing RM17 billion to the economy in 2019. The sector is now seen as a critical lifeline for the local rubber industry, which has struggled with declining prices. Rubber prices have fallen from RM3.00 per kilogram several years ago to RM1.70 per kg currently, pressuring smallholders and rubber-tappers. The MRB noted that rubber prices are dictated by global markets and remain in a cyclical downturn.
At the close, the MRB’s reference physical price for tyre-grade SMR 20 rose 6.0 sen to 478.0 sen per kg, while latex-in-bulk increased 7.5 sen to 459.0 sen per kg. Industry analysts attribute the price uptick to increased demand for Malaysian rubber, particularly from glove manufacturers.
For Malaysian investors, the glove sector’s strong performance offers a rare bright spot in a challenging economic environment. Top Glove and Hartalega, as the two largest players, continue to benefit from long-term supply contracts with global healthcare providers. Their share price gains underscore the sector’s strategic importance to Malaysia’s export-driven economy.
Looking ahead, the outlook remains tied to the trajectory of the pandemic and global procurement strategies. While the sector’s growth potential is significant, analysts caution that overcapacity risks and price volatility in raw rubber could pose challenges. Nonetheless, with Malaysia poised to further consolidate its market share, the glove manufacturing industry is expected to remain a key driver of the country’s industrial and financial performance in the near term.
Related: Top Glove · Bursa Malaysia