SHARES of Medtecs International : 546 +13.89% and Top Glove : BVA +9.8% rose amid heavy trading on Tuesday (Dec 27) morning.

 

As at 10.35 am, Catalist-listed Medtecs gained as much as 19.4 per cent or S$0.035 over last Friday&rsquo s close to reach S$0.215, as some 18.9 million shares changed hands.

 

Meanwhile, shares of mainboard-listed Top Glove rose 5.9 per cent or S$0.015 to S$0.27 as at 10.35 am, with 9.5 million shares traded.

 

This is despite the group posting a net loss of RM168.2 million (S$51.6 million) for the first fiscal quarter of the year ended November, with the S$0.27 share price the highest the counter has reached since Dec 1.

 

Shares of Medtecs recorded a similar surge in October, at the same peak of S$0.215. Medtecs had received a query from the Singapore Exchange then, for an explanation of the &ldquo unusual price movements&rdquo . The company said it was unaware of any activity that could have explained the surge.

 

Medtecs is a medical protective gear manufacturer, and sells personal protective equipment &ndash including gloves &ndash and face masks. Top Glove is the world&rsquo s largest rubber glove maker.

 

Both counters&rsquo brisk trading comes after China&rsquo s Monday announcement of plans to significantly ease its travel restrictions amid ongoing Covid-19 waves that continue to strain the country&rsquo s resources and health system.