Quick take: Technology stocks draw interest

  • Stock on the Move
  • Tuesday, 15 Sep 2020

KUALA LUMPUR: Semiconductor-related and technology stocks are trending higher on Bursa Malaysia in early trade Tuesday.

Malaysian Pacific Industries Bhd (MPI), KESM Industries Bhd and UWC Bhd are among the top gainers on Bursa Malaysia.

MPI rose 50 sen to RM17.90, KESM gained 26 sen to RM8.83 and UWC added 15 sen to RM5.85.

The Bursa Malaysia Technology Index rose 0.28 points to 55.75 points. Year-to-date, the index has gained almost 46%.

Last week, the Semiconductor Industry Association (SIA) announced global sales of semiconductors were US$35.2bil in July 2020, up 4.9% from July 2019 total of US$33.5bil.

“The global semiconductor market has remained largely resistant to global macroeconomic headwinds through the first seven months of the year, with sales in July increasing on both a year-to-year and month-to-month basis, but substantial market uncertainty remains for the rest of the year,” said John Neuffer, SIA president and CEO.

“Sales into the Americas remained strong in July, increasing 26% year-to-year, and year-to-year sales were up globally among both memory and non-memory products.”

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