Today on Bursa Malaysia, the technology sector stood out with strong performance, buoyed by expectations of a global chip demand recovery. In contrast, the property and energy sectors faced selling pressure due to cautious market sentiment and fluctuating oil prices.
The Malaysian Technology Index rose 1.8% today, emerging as the best-performing sector, primarily benefiting from expectations of a bottoming out and recovery in the global semiconductor cycle. Inari Amertron Bhd gained 1.5%, while Frontken Corp Bhd climbed 2.1%. However, the Property Index declined by 0.7% amid a high-interest rate environment and market concerns over future demand. The Energy Index also fell 0.5%, influenced by fluctuating international crude oil prices (Brent crude dipped below US$80 per barrel), leading investors to remain cautious on the sector. Analysts advise investors to focus on quality companies within the technology sector and remain wary of cyclical sectors.
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