Eye-popping rally in Asian glove-maker shares will proceed, Citi says

SINGAPORE (Aug 12): The astonishing rally in Asian glove-maker shares will prolong additional, because the coronavirus-led increase in demand exhibits no signal of abating, based on Citigroup Inc. Malaysiaࢀ™s Prime Glove Corp Bhd and Kossan Rubber Industries Bhd can every climb by about 75% over the following 12 months because the pandemic drives unprecedented development in gross sales and income for the sector, Megat Fais, an analyst, wrote in a be aware on Tuesday. Glove makers are among the many high gainers in plenty of international fairness indexes this yr, outperforming many stay-at-home shares, gold and even Tesla Inc. Shares…