Malaysian technology stocks faced profit-taking pressure last week, while the energy sector benefited from rising international oil prices. Uncertainty surrounding global semiconductor demand outlook impacted sentiment in the tech segment, leading to some corrections. Conversely, robust crude oil prices supported energy counters.
Sector performance in the Malaysian stock market was polarized last week. The technology sector, after a strong rally, showed signs of profit-taking, with key tech stocks like Inari Amertron declining by approximately 1.8%. Investors remained cautious about the short-term outlook for the global semiconductor industry, especially against the backdrop of corrections in US tech stocks. Conversely, the energy sector performed strongly, buoyed by international crude oil prices rising to US$83 per barrel. Companies such as Genting Energy and Dialog Group saw their share prices increase. Analysts anticipate that capital will likely continue to rotate between different sectors amid macroeconomic uncertainties.
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