Malaysia's technology sector fell 2.5% last week due to slowing global chip demand. The energy and healthcare sectors, however, showed resilience, rising 0.8% and 0.5% respectively.
Sector performance on Bursa Malaysia was mixed last week. The technology sector was among the weakest performers, declining by 2.5% overall, primarily due to slowing global chip demand and a correction in US tech stocks. For instance, Inari Amertron Bhd dropped 1.2%, while Malaysian Pacific Industries Bhd (MPI) fell 1.8%. In contrast, the energy sector gained 0.8%, boosted by stabilizing international oil prices, and the healthcare sector rose 0.5%, led by glove manufacturers and pharmaceutical companies. Analysts anticipate that the technology sector's correction might persist for some time, advising investors to focus on companies with strong fundamentals and innovation capabilities. Meanwhile, the energy and healthcare sectors remain defensive in the current market environment and are expected to continue attracting capital inflows.
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