SGX-listed glovemakers rally amid worries over Omicron variant

SHARES of glovemakers on the Singapore Exchange jumped on Monday (Nov 29) morning amid fears over the new, potentially more infectious Omicron Covid-19 variant.

The 5 counters were among the top traded stocks by volume during the morning trading session.

Medtecs International 546 reached a high of S$0.50 as at 10.15 am, up 25 per cent or S$0.10, with 37.3 million shares changing hands, while Riverstone Holdings AP4 reached a high of S$0.815 as at 9.36 am, up 14.8 per cent or S$0.105, with 19.5 million shares traded.

Aspen (Group) Holdings 1F3 hit S$0.151 as at 9.44 am, up 18 per cent or S$0.023, with 14.8 million shares traded, UG Healthcare 8K7 was trading at S$0.415 as at 10.15 am, up 27.7 per cent or S$0.09, with 28.2 million shares changing hands, while Top Glove BVA was at S$1.01 as at 11.39 am, up 21 per cent or S$0.175, with 26 million shares traded.

No married deals were recorded for all 5 counters, according to ShareInvestor data.

As at the midday break, Medtecs had eased slightly to S$0.49, up 22.5 per cent or S$0.09, and Riverstone was trading at S$0.795, up 12 per cent or S$0.085.

UG Healthcare also eased slightly to S$0.40, up 23.1 per cent or S$0.075, Top Glove was at S$0.995, up 19.2 per cent or S$0.16, and Aspen was trading at S$0.144, up 12.5 per cent or S$0.016.

Glovemakers were actively traded last year as the pandemic began to unfold amid the anticipation of higher demand for healthcare equipment, although their share prices have pulled back this year following global vaccine roll-outs and economic reopenings.

READ MORE:

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