Malaysian stock market sectors showed divergence today, with the financial sector performing strongly, driven by banking stocks. In contrast, the technology sector faced profit-taking pressure, leading to declines in some tech-related counters, as investors shifted focus.
Sectoral performance on Bursa Malaysia was mixed today. The financial sector was the standout performer, gaining 1.1% overall, largely due to the robust showing of Maybank and CIMB. Conversely, the technology sector faced selling pressure, declining by 0.8%, with Inari Amertron Bhd falling 1.8% to RM3.25, influenced by global semiconductor industry sentiment. The energy sector remained flat amidst fluctuating crude oil prices, while healthcare saw a modest gain of 0.2%. Analysts suggest investors are rotating out of high-valuation technology stocks into more attractively valued financial counters, anticipating better dividend yields.
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