The local stock market gave back some of its recovery gains in early daily trading on Friday as investors digested the reality of the shocking US tariffs on Chinese exports, a trade war between the world's two largest economies.
Following the sharp fall in the US market yesterday, the FBM KLCI also fell 21.47 points to 1,441.66, reflecting the extreme volatility in the global market.
Security Melaka Research encourages market players to support local glove company shares as the US tariff hike in the industry for China and Malaysia exceeds 100%.
They are confident that glove manufacturers will reap significant benefits as the price gap between the two markets continues to widen.
In addition, it said that lower raw material prices and a weak ringgit environment could further boost glove demand and profits.
