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May 21, 2024 - 03:27
By asia.nikkei.com

Malaysian rubber glove makers gain on Biden's new China tariffs

SINGAPORE -- Tariff increases on Chinese products unveiled last week by the U.S. have produced an unexpected winner in the stock market: Malaysia's rubber glove makers.

Shares of Top Glove, a big rubber glove maker in Malaysia, hit their highest point in nearly two years last week, jumping 30% on Wednesday alone. Local peers Hartalega Holdings and Kossan Rubber Industries also surged, as did Thai competitor Sri Trang Glove.