SGX-listed glove makers nosedive on vaccine news, profit-taking

Fiona Lam

Published Wed, Aug 12, 2020 · 09:50 PM

Singapore

SHARES of the trio of Singapore-listed glove names - Top Glove, Riverstone Holdings and UG Healthcare - skidded on Wednesday, shedding their gains from recent weeks, following news about Covid-19 vaccines in Russia, Singapore and the United States.

On Tuesday night, pharmaceutical firm Arcturus Therapeutics announced that Singapore's first volunteers have been dosed with a Covid-19 vaccine by Arcturus and Duke-NUS Medical School. Separately, Russia has approved its new vaccine against the novel coronavirus, while the US will buy 100 million doses of drugmaker Moderna's potential vaccine for some US$1.5 billion.

These announcements appeared to weigh on investor sentiment for glove plays, as an effective vaccine will curb Covid-19's spread…