Malaysian tech stocks generally declined today, facing valuation adjustment pressure. Meanwhile, the energy sector performed strongly, boosted by rising international oil prices, with Brent crude surpassing US$85 per barrel. Investors are shifting from growth to value stocks amidst global economic shifts.
Bursa Malaysia's market today showed sector divergence. The Technology Index fell 1.8%, mainly impacted by global tech stock corrections and investor concerns over high valuations. For instance, Inari Amertron dropped 2.5% to RM3.20. However, the energy sector moved against the trend, with the Energy Index rising 1.1%. Brent crude oil prices surpassed US$85 per barrel, boosting related stocks such as Dialog Group, which rose 1.8% to RM2.30, and Velesto Energy, up 2.0% to RM0.255. Analysts believe that in an environment of rising inflation pressure and interest rate expectations, funds are shifting from high-growth tech stocks to value and commodity-related sectors.
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