On Bursa Malaysia today, the technology sector fell 1.5% due to profit-taking, while the energy sector bucked the trend, gaining 0.8% on the back of rising international oil prices. Investors are re-evaluating short-term prospects across sectors.
On February 6, Malaysia's technology sector faced significant profit-taking pressure today, declining by 1.5% overall, with Inari Amertron falling 2.1% and Frontken Corp dropping 1.8%. In contrast, the energy sector performed strongly, gaining 0.8%, primarily driven by the sustained rise in international crude oil prices, with Brent crude hovering above US$80 per barrel. Velesto Energy rose 1.5% and Dialog Group gained 0.5%. Analysts suggest that while the long-term outlook for tech stocks remains positive, they may face short-term corrections. Energy stocks, meanwhile, are expected to continue benefiting from elevated oil prices.
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