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KUALA LUMPUR (March 26): Kenanga Investment Bank Bhd (Kenanga IB) remains “neutral” on the technology sector’s medium-term outlook, as it expects the recovery momentum to take place gradually.
KUALA LUMPUR: The local bourse ended firmer on Monday as mild profit-taking emerged among selective heavyweight, in line with the performance of its regional peers.
Analysts are largely indifferent about the immediate prospects for the technology industry, as corporate earnings remain lacklustre while some believe corporate recovery will be gradual.
With global semiconductor sales in January growing at the fastest pace in 20 months, this likely marks the beginning of a new multi-year semiconductor upcycle, benefiting Malaysia as the world’s sixth-largest chip exporter.
TA Securities has maintained “overweight” on the technology sector, saying it expects the sentiment of the semiconductor sector in Malaysia to improve gradually, underpinned by an anticipated recovery in global demand as well as increasing trade diversion opportunities as a result of the China Plus One strategy.
KUALA LUMPUR: The FBM KLCI edged up at midday on continuous buying support in index-linked counters, led by Genting, PETRONAS Chemicals and Maybank, amid mixed regional markets.
KUALA LUMPUR: The FBM KLCI extended its gain and ended the day 0.26% higher on continuous buying support in heavyweights, in sync with regional markets.
KUALA LUMPUR: The FBM KLCI ended the day higher on Thursday, bucking the trend as other regional indices edged down while the ringgit held its ground against the US dollar.