The technology sector is facing correction pressure due to global interest rate expectations, while the energy sector is gaining investor attention as international oil prices rise. Brent crude surpassing US$85 per barrel has boosted local oil and gas stocks, signaling a potential shift in sector focus.
Malaysia's technology sector continued to face correction pressure on Friday, primarily influenced by global tech stock pullbacks and concerns over future interest rate hikes. Investors are beginning to re-evaluate the risks associated with highly valued tech stocks. Meanwhile, the energy sector received a boost from the strong performance of international oil prices. Brent crude surpassed US$85 per barrel, stimulating the share prices of local oil and gas-related companies such as Yinson Holdings and Dialog Group. Analysts anticipate that if oil prices remain elevated, the energy sector is poised to continue attracting capital inflows in the coming weeks, becoming a new growth area for the market.
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