Malaysia's technology sector declined 2.1% on Friday, impacted by global semiconductor industry uncertainties and weakness in US tech stocks. Investors are adopting a cautious stance on future order growth.
KUALA LUMPUR, March 14 – Malaysia's technology sector experienced a significant pullback on Friday, with the FBM Technology Index falling 2.1%, making it one of the worst-performing sectors of the day. This decline was primarily driven by uncertainties surrounding the global semiconductor industry outlook and a general softening in US technology stocks. While the long-term demand prospects remain optimistic, the market is cautious about short-term order growth for chip manufacturers and related service providers. For instance, Inari Amertron fell 3.5%, while Malaysian Pacific Industries (MPI) also dropped 2.8%. Analysts suggest that in the absence of new catalysts and concerns about a global economic slowdown, tech stocks may face further profit-taking pressure.
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