KUALA LUMPUR (Feb 4): The main index of Bursa Malaysia reversed its earlier loss and climbed in the mid-morning today, but gains were seen capped against a backdrop of lacklustre regional markets.
At 10am, the FBM KLCI had risen 1.61 points to 1,584.60. The index earlier slipped to a low of 1,581.36.
Gainers led losers by 469 to 282, while 397 counters traded unchanged. Trading volume was 1.6 billion shares valued at RM884.42 million.
The top gainers included Malaysian Pacific Industries Bhd, See Hup Consolidated Bhd, Kobay Technology Bhd, Genetec Technology Bhd, ViTrox Corp Bhd and Khind Holdings Bhd.
The actively traded stocks included Luster Industries Bhd, KNM Group Bhd, Sanichi Technology Bhd, Dagang NeXchange Bhd (DNeX), AbleGroup Bhd, Iris Corp Bhd and PA Resources Bhd.
KUALA LUMPUR (Feb 3): The main index of Bursa Malaysia had pared some its gains at the midday break today as index-linked glove makers ranked among the decliners, while regional bourses rallied.
At 12.30pm, the FBM KLCI was up 5.53 points at 1,586.02. The index earlier rose to a high of 1,593.46.
Gainers led losers by 624 to 410, while 419 counters traded unchanged. Trading volume was 3.16 billion shares valued at RM2.34 billion.
The gainers included Malaysian Pacific Industries Bhd, UWC Bhd, ViTrox Corp Bhd, Nestle (Malaysia) Bhd, Greatech Technology Bhd, KESM Industries Bhd, Mi Technovation Bhd, Pentamaster Corp Bhd and Toyo Ventures Holdings Bhd.
The actively traded stocks included Iris Corp Bhd. Greatech, Dagang NeXchange Bhd (DNeX), QES Group Bhd and Vizione Holdings Bhd.
THE tech stock rally this month, which was particularly strong last week, should not come as a surprise to investors as many of the counters have hit all-time highs since last year’s June-to-August market rally.
The spectacular share price performances of these semiconductor and semiconductor-related stocks have been overshadowed by the rubber glove mania last year amid the Covid-19 pandemic. Until lately, that is.
One major factor fuelling the current rally is the global chip shortage, which has pushed up the prices of certain semiconductors and caused automotive firms to halt production.
But it appears that the shortage has become a boon to semiconductor players, including Malaysian companies, as lockdowns and travel restrictions are prompting consumers to buy more smartphones, smart devices, smart TVs, computers and laptops.