PETALING JAYA: The poor valuation of glove stocks amid bearish sector fundamentals and lack of investor interest may signal underlying fears that the counters will likely be excluded from the FBM KLCI in the next biannual round of index component reviews in December.
The two glove makers in the FBM KLCI, Top Glove Corp Bhd
and Hartalega Holdings Bhd, are likely to be excluded from the 30-stock index as their market capitalisation have fallen drastically.
Top Glove and Hartalega have seen their market capitalisation drop to RM8.1bil and RM9.7bil respectively.
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