Malaysia's technology sector declined 1.1% today, impacted by concerns over slowing global semiconductor demand and a pullback in US tech stocks. Inari Amertron fell 1.2%, while MPI dropped 1.5%.
Malaysia's technology sector faced significant selling pressure today, with the index declining 1.1%, making it one of the worst-performing sectors. This was primarily influenced by uncertainties surrounding the global semiconductor industry outlook and an overnight pullback in US tech stocks. Local tech giants like Inari Amertron fell 1.2% to RM3.15, while Malaysian Pacific Industries (MPI) dropped 1.5% to RM28.50. Analysts note that despite optimistic long-term prospects, short-term concerns over slowing demand for smartphones and PCs, coupled with inventory adjustments, could continue to weigh on the sector. Investors are closely monitoring guidance from global chipmakers and order trends.
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