Malaysia's technology sector saw declines on Friday, with the FBM Technology Index falling 1.2%. UWC Bhd led the losses, dropping 3.5%, as investors remained cautious amidst an uncertain global semiconductor industry outlook.
Malaysia's technology sector underperformed in Friday's trading, with the FBM Technology Index declining 1.2% to close at 68.30 points. Semiconductor test equipment manufacturer UWC Bhd led the losses, with its share price falling 3.5% to RM3.30. Analysts noted that despite a positive long-term outlook, short-term volatility in the global semiconductor industry and concerns over consumer electronics demand have led investors to adopt a cautious stance on tech stocks. Other tech counters like Inari Amertron Bhd also saw declines, dropping 1.0%. Market participants are closely monitoring earnings reports from US tech giants and global chip sales data for clearer signs of industry recovery.
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