Malaysian technology stocks faced correction pressure on Friday, while energy stocks were boosted by rising international oil prices. The banking sector performed strongly, with property and healthcare sectors remaining flat.
On Friday, various sector performances in Malaysia were mixed. The Technology Index declined by 0.7%, primarily influenced by uncertainties in the global semiconductor outlook and profit-taking activities by investors, with Inari Amertron (stock code: 0166) falling 1.0% to RM3.50. Meanwhile, the Energy Index benefited from rising international crude oil prices, as Brent crude surpassed US$82 per barrel, driving the sector up by 0.9%. The Financial Services Index was the strongest performer, rising 1.1%, largely propelled by the robust performance of Maybank and CIMB. The Property Index and Healthcare Index remained relatively stable, with fluctuations within 0.2%. Analysts anticipate continued volatility in technology stocks until there is greater clarity on the US Federal Reserve's monetary policy and global economic data.
Share: