Malaysia's energy sector saw robust gains on Friday, driven by Brent crude oil prices surpassing US$85 per barrel. Petronas Chemicals Group Bhd rose 2.1%, while Dialog Group Bhd gained 1.7%. Conversely, the technology sector faced pressure, with the Technology Index falling 0.8% amid global concerns over valuation and rising bond yields.
Malaysia's energy sector stood out on Friday, benefiting significantly from the sustained rally in international oil prices, with Brent crude surpassing US$85 per barrel. Petronas Chemicals Group Bhd saw its share price rise 2.1%, while Dialog Group Bhd also gained 1.7%. Conversely, the technology sector faced headwinds, with the Technology Index declining 0.8%. This downturn was largely influenced by global concerns over tech stock valuations and rising US Treasury yields, prompting investors to rotate funds from high-growth technology counters into more value-oriented energy and financial stocks. The semiconductor sub-sector was particularly affected.
Share: