Malaysia's technology and energy sectors were standout performers on Friday, rising 1.8% and 1.1% respectively. This surge was fueled by positive global tech sentiment and firm crude oil prices. In contrast, the property sector faced headwinds, declining 0.7% amid ongoing concerns about higher interest rates impacting housing affordability and developer margins. Investors are re-evaluating sector allocations.
Sectoral performance in the Malaysian stock market was mixed during Friday's trading session. The technology sector emerged as the top performer, climbing 1.8% overall, largely buoyed by optimistic sentiment in the global semiconductor industry, with companies like Inari Amertron seeing share price increases. The energy sector also performed well, gaining 1.1%, supported by stable international crude oil prices hovering around US$82 per barrel. In contrast, the property sector faced significant pressure, declining 0.7%, as investors remained concerned that a high interest rate environment would continue to impact housing sales and developers' profitability. Analysts advise investors to remain cautious in sector selection and focus on industries with strong fundamentals and growth prospects.
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