Semicon stocks climb on positive outlook by chip equipment makers

  • Markets
  • Wednesday, 10 Jun 2020

KUALA LUMPUR: Semiconductor-related stocks were among the major gainers on Wednesday as investor sentiment was shored up by a positive outlook from the US-based Semiconductor Equipment Manufacturers Industry (SEMI).

At the midday break, Greatech Technology was the top gainer, up 20 sen to RM3.56 Dufu and KESM 14 sen higher at RM5.01 and RM7.97 while Globetronics gained 13 sen to RM2.20.

SAM Engineering, which is involved in precision machining of niche aerospace products, rose 18 sen to RM6.28. It also provides system integration services to multinational companies in the hard disk drive, solar, semiconductor and LED industries.

SEMI sees strong growth ahead for global fabrication equipment spending in 2021 as it recovers from the trough this year following the Covid-19 pandemic fallout.

It said on Wednesday it expects a 24% growth in spending to a record US$67.7bil in 2021, which is 10% higher than the previously forecast US$65.7bil, and all product segments promising solid growth rates.

According to the 2Q 2020 update of the SEMI World Fab Forecast report, memory fabs will lead worldwide semiconductor segments with US$30bil in equipment spending, while leading-edge logic and foundry is expected to rank second with US$29bil in investments.

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