Sector performance on Bursa Malaysia was mixed today, with the Technology Index declining by 1.2% due to a global tech stock pullback. In contrast, the Banking and Energy sectors showed resilience, rising 0.7% and 0.5% respectively, supported by a stable economic outlook and firm crude oil prices. Property and healthcare sectors traded flat, indicating cautious investor sentiment in those areas.
Sectoral performance on Bursa Malaysia was distinctly mixed today. The Technology Index declined by 1.2%, primarily influenced by an overnight pullback in US tech stocks and market concerns over high valuations. For instance, Greatech Technology fell 1.8% to RM4.35. Concurrently, the Banking sector showed robust performance, with the Banking Index rising 0.7%, led by gains in Maybank and CIMB. The Energy sector also advanced by 0.5% due to stable international crude oil prices, with Brent crude maintaining above US$80 per barrel. The Property and Healthcare sectors, however, traded flat, as investors adopted a wait-and-see approach regarding their future trajectories. Analysts anticipate continued pressure on the tech sector until there is greater clarity on the US Federal Reserve's monetary policy.
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