Malaysia's technology sector surged 1.5% on Friday, driven by renewed optimism over global chip demand recovery. The banking sector also showed robust performance, while the plantation sector faced pressure due to volatile crude palm oil (CPO) prices. This divergence highlights a shift in investor focus towards growth-oriented sectors.
Malaysia's technology sector stood out on Friday, gaining 1.5% to be the day's top performer. Key tech stocks like Inari Amertron and Malaysian Pacific Industries rose 2.1% and 1.8% respectively. Optimism surrounding a recovery in global semiconductor demand was the primary driver. The banking sector also showed robust performance, climbing 0.8%, boosted by positive movements in Maybank and CIMB. However, the plantation sector declined 0.3%, as volatile crude palm oil prices and persistent labour shortages continued to challenge its profitability. Analysts anticipate the tech sector to maintain its growth momentum amidst global economic recovery.
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