Malaysian technology stocks generally faced pressure on Friday, while the energy sector saw mixed performance. Concerns over slowing global semiconductor demand weighed on tech sentiment, impacting major players like Inari Amertron.
Malaysia's technology sector broadly faced pressure on Friday, primarily due to concerns over slowing global semiconductor demand. Inari Amertron fell 1.2% to RM3.30, with other tech-related companies also experiencing selling pressure. Investors remained cautious regarding the latest earnings reports from US tech giants, which could signal reduced order volumes in the coming quarters. Meanwhile, the energy sector displayed mixed performance. Despite firm international crude oil prices, local oil and gas service providers like Velesto Energy saw their shares drop by 0.9%, while Petronas Gas edged up 0.2%. Analysts believe the tech sector's correction might persist for a while, while energy stocks will continue to be influenced by crude oil price fluctuations and the global economic outlook.
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