=MARKET BUZZ: Malaysia's Hartalega, Top Glove Fall On Higher Input Cost Concern
KUALA LUMPUR (Sep 13) -- Hartalega Holdings down 4.2% to MYR6.42, Top Glove Corporation down 1.1% to MYR5.34 after Malaysian Rubber Glove Manufacturers Association president Denis Low Jau Foo says prices of nitrile butadiene, a key raw material for glovemakers, could increase due to production disruptions brought on by Hurricane Irma. “Hartalega could see weaker results in the next quarter as 90% of their production mix uses nitrile butadiene,” says analyst at local brokerage. Adds, “Top Glove also uses nitrile for a sizeable portion of production.”
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