KUALA LUMPUR (Feb 2): Greater investor interest saw rubber glove stocks finishing higher today in active trading.

Top Glove Corp Bhd closed 4.60% or 31 sen higher at RM7.05, valuing the group at RM57.82 billion. It was the ninth most actively traded stock on Bursa Malaysia with a trading volume of 100.2 million shares, which is 2.38 times more than its 200-day average trading volume of 42.17 million shares.

Top Glove is among the counters that have been in the spotlight in recent days after BursaBets flagged the stock as a target for short selling, on social media network Reddit, in a manner that was seen with US video game retailer GameStop.

According to data provided by Bursa Malaysia, the glove maker’s net short position rose to 241.9 million shares or 2.95% of its total share capital

In comparison, as at Jan 27, the net short position of Top Glove stood at 239.45 million or 2.92% of its share capital.

On the final two trading days of last week, Top Glove shares were the second most shorted on Bursa Malaysia, after Public Bank Bhd.

On Friday (Jan 29), Top Glove saw 2.52 million of its shares worth RM16.69 million shorted. On Wednesday, it was 2.44 million shares worth RM15.16 million.

Data for today’s regulated short selling (RSS) will be uploaded later in the day.

From a retail participation perspective, as of Jan 29, retail investors accounted for 34.45% of trading activities. Local institutions continued to dominate with 40.75%, while foreign investors accounted for 24.8%.

Other glove counters that saw gains today included Hartalega Holdings Bhd, which was up 3.42% or 44 sen at RM13.30, for a market capitalisation of RM45.59 billion.

Supermax Corp Bhd finished 4.12% or 28 sen higher at RM7.08, yielding a market capitalisation of RM19.26 billion.

Kossan Rubber Industries Bhd bucked the trend, declining 1.12% or five sen to RM4.40 per share, giving the group a market value of RM11.26 billion.