Malaysia's technology sector showed robust performance today, with the Bursa Malaysia Technology Index gaining 1.5%, driven by renewed interest in growth stocks. Conversely, the energy sector faced pressure, with the Energy Index dipping 0.7% as global oil prices experienced volatility. Banking stocks remained stable, while property showed modest gains.
Sector performance on Bursa Malaysia was mixed today. The technology sector led the gains, with the Bursa Malaysia Technology Index climbing 1.5%, primarily driven by renewed expectations of a global semiconductor demand recovery and strong order books for local tech firms. For instance, Inari Amertron saw a 2.5% rise, while Malaysian Pacific Industries also recorded an increase of 1.8%. Concurrently, the energy sector faced pressure, with the Energy Index dipping 0.7% as international crude oil prices experienced volatility, with Brent crude hovering around US$80 per barrel. The banking sector remained resilient, with the Financial Index inching up 0.4%. Analysts anticipate further upside for the technology sector amid the ongoing digital transformation wave.
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