Malaysia's energy sector faced pressure on Monday, declining 0.3%, influenced by volatile Brent crude oil prices hovering around US$82 per barrel. The technology sector remained largely flat as investors adopted a cautious stance regarding the global chip demand outlook.
Malaysia's energy sector displayed weakness in Monday's trading, declining by 0.3% overall. This was primarily due to volatile Brent crude oil prices, which hovered around US$82 per barrel, exacerbated by growing market concerns over global economic slowdown potentially impacting crude demand. Petronas Chemicals Group Bhd saw a 0.2% dip, while Tenaga Nasional Bhd remained relatively stable. Concurrently, the technology sector remained largely flat. Despite signs of recovery in the global semiconductor industry, investors maintained a cautious outlook on chip demand prospects for the coming quarters. Regional competition and supply chain challenges also weighed on local tech companies, resulting in a lack of clear direction for the sector.
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