Interest in Kossan Rubber Industries Bhd sparked after they reached a record high of RM1.04 billion net profit for their quarterly report ending in March 31, 2021. They also declared an interim dividend of 12 Sen per share.
This made Kossan share price to increase 3% or 13 Sen to RM3.93 making them appear in Bursa’s Top Gainers yesterday.
Kossan quarterly report gave positive sentiment through all the glove counters as well with Hartalega Holdings Berhad and Supermax Corporation Berhad within the top gainers as well.
Hartalega have the most gains with 25 Sen and Supermax also has more gain than Kossan.
By investigating the shareholder network of Bursa announcements, the glove companies, Hartalega, Supermax and Kossan share a few shareholders.
This shows that one positive news about one glove company would also affect the other glove companies as well.
The media have also been focusing on Kossan after they released the quarterly report with a surge of news exposure on the 22nd and 23rd day within the month.
Looking at the insider trading chart, the news exposure did not influence the trading volume until the month when the pandemic hits.
Then, the news exposure mirrors the trading volume which also cause their share price to increase significantly.