On Bursa Malaysia today, the technology sector was the top performer, with its index rising 1.5%, boosted by expectations of a global semiconductor demand recovery. Conversely, the energy sector faced pressure due to volatile international oil prices, resulting in its index dropping 0.8%.
In today's Malaysian stock market, the technology sector took center stage, with its index rising 1.5%, outperforming the broader market. This was primarily driven by signs of recovery in the global semiconductor industry and strong performance from US tech stocks. Local tech giants like Inari Amertron and Malaysian Pacific Industries saw gains of 2.5% and 1.8% respectively. Analysts predict that with the widespread adoption of 5G technology and artificial intelligence, demand for chips will continue to grow, benefiting technology companies. However, the energy sector faced challenges, with its index falling 0.8%, mainly due to fluctuations in international crude oil prices. Brent crude oil prices hovered around US$82 per barrel, putting pressure on related stocks such as Petronas Chemicals and Yinson Holdings. Investors remain cautious about the future trajectory of energy stocks, closely monitoring OPEC+ production policies and global economic growth prospects. Meanwhile, the property sector also saw a modest increase of 0.3%, demonstrating some resilience.
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