Malaysian technology stocks faced profit-taking today, while the healthcare sector underperformed due to a lack of fresh catalysts. Investors shifted funds towards value stocks, putting pressure on these two sectors.
Following recent strong gains, Malaysian technology stocks faced profit-taking today, leading to an overall decline of 1.8% for the sector. Semiconductor-related companies like Inari Amertron fell 2.5% to RM3.20, and Malaysian Pacific Industries (MPI) dropped 1.9% to RM32.50. Concurrently, the healthcare sector also underperformed, declining 0.7% overall, primarily due to a lack of fresh industry catalysts and waning investor interest in the segment. Major glove manufacturers such as Top Glove and Hartalega saw slight dips in their share prices, reflecting market concerns over future growth in the industry. Analysts noted that a sector rotation effect is evident, with investors tending to shift funds from high-growth but highly valued tech and healthcare stocks towards more attractively valued cyclical or value stocks.
Share: