Technology -themed stocks in Malaysia posted gains on March 17, tracking the positive performance of the Nasdaq Composite which closed higher at 3.8% as global semiconductor materials market earnings hit a new record.
During the afternoon, the Bursa Malaysia Technology stock index rose 4.78% to 74.71.
Below is a summary of the Exchange’s technology stock entries.
Malaysian Pacific Industries Bhd jumped RM3.62 or 11.47% to RM35.18
ViTrox Cataupatauation Bhd reached 43 sen or 6.65% at RM6.90
Pentamaster Cataup Bhd rose 36 sen or 10.43% to RM3.81
UWC Bhd added 26 sen or 7.56% to RM3.70
Frontken Cataup Bhd gained 23 sen or 8.42% at RM2.96
SAM Engineering & Equipment (M) Bhd rose 22 sen or 5.19% at RM4.46
PIE Industrial Bhd gained 20 sen or 7.41% at RM2.90.
Panasonic Manufacturing Malaysia Bhd rose 20 sen or 0.72% to RM27.80
Unisem (M) Bhd jumped 19 sen or 7.14% to RM2.85,
PMB Technology Bhd gained 18 sen or 1.07% at RM17.02,
Fataumosa Prosonic Industries Bhd reached 16 sen or 4.65% at RM3.60,
D&O Green Technologies Bhd added 17 sen or 4.14% to RM4.28,
Kobay Technology Bhd rose 14 sen or 4.29% at RM3.40, and
Inari Amertron Bhd drove 15 sen or 5.15% at RM3.06.
According to Kenny Yee, head of research at Rakuten Trade, the rise in technology stocks on the Exchange is related to a surge on the Nasdaq due to bargain-hunting activity, but it remains uncertain due to the Russia-Ukraine war as well as rate hikes by the Federal Reserve (Fed).
Meanwhile, Ng Jun Sheng, an analyst at Hong Leong Investment Bank (HLIB) Research, opined that apart from the drive from the Nasdaq, Chinese market conditions also played a role.
The Chinese government and the United States (US) are seen planning cooperation on Chinese stocks listed on Wall Street, further impacting Hong Kong and Chinese technology stocks.
As a result, it indirectly spread to regional markets including Malaysia.
He added that the outlook for 2022 and 2023 for Malaysian technology stocks is expected to remain strong with encouraging demand.
Turning to semiconductor market news, its global market grew 15.9% year -on -year with revenue of $ 64.3 billion in 2021, surpassing the 2020 high of $ 55.5 billion.
According to a statement from US Semiconductor Equipment & Materials International (SEMI), revenue for wafer fabrication materials and packaging materials in 2021 rose $ 40.4 billion and $ 23.9 billion, respectively.
