On Monday, the banking sector fell 1.1% due to profit-taking, while the technology sector showed resilience, dipping only 0.3%, supported by positive semiconductor demand outlook. Energy and plantation sectors also faced downward pressure.
On Monday, the banking sector emerged as one of the weakest performers on Bursa Malaysia, declining by 1.1% as investors opted to lock in profits following its recent strong run. In contrast, the technology sector displayed relative resilience, dipping only a marginal 0.3%, buoyed by continued optimism surrounding the global semiconductor industry's demand outlook. The energy sector fell 0.8% amid a slight pullback in oil prices, while the plantation sector also saw a 0.6% decline due to volatile palm oil prices. Analysts noted that despite the short-term correction in banking stocks, their long-term fundamentals remain robust. The resilience in tech indicates sustained investor confidence in the growth of the digital economy.
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