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More upside expected for technology sector

HLIB Research said the majority of the companies under its coverage including Frontken Corp Bhd, UWC Bhd, Inari Amertron Bhd and ViTrox Corp Bhd would likely deliver all-time high earnings in their upcoming quarterly results PETALING JAYA: Technology-related counters, which have done tremendously well in 2020, are expected to continue their upward momentum, driven by sectors such as automotive, Internet of Things (IoT) and communications. Last year, the Bursa Malaysia Technology Index gained 84%, outperforming the main index, the FBM KLCI, that saw a 2% increase. Hong Leong Investment Bank (HLIB) Research said it expected the technology sector to experience “multi-year earnings growth” supported by “fundamental exponential demand”.

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