The Malaysian stock market saw the technology sector perform strongly today, rising 1.5% on expectations of a global semiconductor demand recovery. In contrast, the plantation sector fell by 0.7% due to a pullback in crude palm oil prices. Banking and energy sectors showed flat performance.
Sectoral performance on Bursa Malaysia was bifurcated today. The technology sector emerged as a market highlight, with its index climbing 1.5%, largely driven by optimism over a global semiconductor industry recovery. Key tech counters like Inari Amertron (INARI) and Frontken Corporation (FRONTKN) gained 1.8% and 2.1% respectively. Meanwhile, the plantation sector faced headwinds, with its index falling 0.7% as crude palm oil (CPO) prices retreated from recent highs. Kuala Lumpur Kepong Bhd (KLK) dropped 0.4%. The banking sector remained stable, while the energy sector saw a slight dip of 0.3% amidst fluctuating oil prices. Analysts anticipate continued sector rotation as earnings season unfolds, with investors favoring growth-oriented tech and export-driven companies.
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