Thanks to the meteoric gain in glove-maker stocks, Malaysia’s equity market capitalization is close to surpassing that of its richer neighbour Singapore.
Malaysia’s market value has surged 41% since a March low to hit US$379 billion ($524.87 billion) as the coronavirus pandemic supercharged demand for medical gloves and shares of the manufacturers. That puts Malaysia about US$4 billion away from surpassing Singapore’s market capitalization for the first time in more than 16 years, according to data compiled by Bloomberg that only include actively traded primary listings.
