KUALA LUMPUR, Sept 9 — Top Glove and Hartalega have lost their positions as the second and third most valuable companies on Bursa Malaysia, as interest in glove manufacturers subsides on hopes for Covid-19 vaccine.

At mid-afternoon, Top Glove’s market capitalisation (market cap) fell to RM58.44 billion from RM70.45 billion when it displaced Public Bank as the second largest company on July 23, 2020.

Hartalega’s market cap also slipped to RM44.35 billion from about RM69.50 billion when it overtook Public Bank as the third largest company on Aug 1, 2020.

Both Top Glove and Hartalega, the only two glove counters in the benchmark 30-stock FTSE Bursa Malaysia KLCI, are now the fourth and sixth largest companies on the local exchange.

Maybank is still the largest company on Bursa Malaysia with a market cap of RM82.06 billion, followed by Tenaga (RM63.92 billion) and Public Bank (RM62.50 billion).

IHH is the fifth most valuable counter on the local bourse with market cap of RM47.40 billion. — Bernama