PETALING JAYA: Investor sentiment on Bursa Malaysia will be primarily led by domestic issues such as the 15th General Election (GE15) as its decouples from the impact of external developments, which has been the case in the past few months.
KUALA LUMPUR (May 11): Bursa Malaysia’s Technology Index fell 1.58% to 78 as selling pressure on big tech shares sent the US Nasdaq Composite down 2.55% overnight to 13,401.86 points.
Malaysian Pacific Industries Bhd (MPI), Greatech Technology Bhd and Unisem (M) Bhd were among the top 30 losers this morning.
At the time of writing, MPI, the top loser, had fallen RM1.40 or 3.65% to RM37.
Meanwhile, Unisem slid 27 sen or 3.61% to RM7.20, while Greatech was down by 23 sen or 4.12% at RM5.35.
Phillip Capital Management Sdn Bhd chief strategist Phua Lee Kerk is neutral on the outlook for technology stocks.
He opined that there are still some upsides for technology stocks as recovery plays are dragged by the movement control order (MCO 3.0).
KUALA LUMPUR (March 8): Technology-related stocks on Bursa Malaysia continued to fall on profit taking today, as the selldown on US technology stocks weighed on sentiment and investors shifted interest to other recovery plays.
Bursa Malaysia’s technology index fell 6.09% to 79.81, with Malaysian Pacific Industries Bhd, ViTrox Corp Bhd and UWC Bhd topping the list of losers.
MPI was the top loser, plunging RM4.52 or 11.47% to RM34.88, followed by ViTrox’s RM1.22 or 7.71% drop to RM14.60, and UWC sinking 68 sen or 11.7% to RM5.13.
Meanwhile, KESM Industries Bhd slid 62 sen or 4.59% to RM12.88, Unisem (M) Bhd lost 59 sen or 7.29% to RM7.50, Penta Master Corp Bhd tumbled 47 sen or 8.22% to RM5.25, and D&O Green Technologies Bhd slipped 41 sen or 10.57% to RM3.47.