Malaysia's technology sector experienced a pullback on Friday, while the energy and healthcare sectors bucked the trend with gains. Rising oil prices boosted energy stocks, and expectations of sustained demand for healthcare services supported healthcare counters.
In the Malaysian stock market today, the Technology Index fell by 1.2%, primarily influenced by weakness in US tech stocks. Major tech players like Inari Amertron dropped 2 sen to RM3.28. However, the energy sector performed strongly, with the Energy Index rising 0.9%, supported by Brent crude oil prices breaking above US$80 per barrel. Dialog Group gained 3 sen to RM2.15. The healthcare sector also fared well, with the Healthcare Index up 0.7%, and IHH Healthcare rising 5 sen to RM6.20. Analysts believe the tech sector's correction is a short-term phenomenon, while the long-term outlook for energy and healthcare remains optimistic.
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