The technology and banking sectors were standout performers today, rising 1.8% and 1.1% respectively, driven by strong regional cues and robust earnings expectations. Conversely, the property sector remained largely flat, experiencing limited movement due to a lack of fresh catalysts and ongoing concerns about market overhang. Investors are shifting towards growth and value plays.
Sector performance on Bursa Malaysia was mixed today. The technology sector surged 1.8%, buoyed by strong performances from its regional counterparts, with Inari Amertron (INARI) and Malaysian Pacific Industries (MPI) rising 2.5% and 2.0% respectively. The banking sector also performed exceptionally well, gaining 1.1%, largely due to buying interest in major banking stocks. In contrast, the property sector remained largely flat, showing little change, as analysts noted ongoing challenges in new project launches and the absorption of existing inventory despite economic recovery. The energy sector saw a slight dip of 0.3% influenced by fluctuating oil prices.
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