Quick take: Tech, semiconductor stocks shine on Bursa


KUALA LUMPUR: Semiconductor-related and technology stocks were among the top 10 gainers on Bursa Malaysia in early trade Wednesday.

Bursa Malaysia Technology Index rose 0.61-of a point to 78.10 points.

JF Technology Bhd, MI Technovation Bhd, KESM Industries Bhd and Unisem (M) Bhd are among the top 10 gainers on Bursa Malaysia.

Shares in MI added 8.49%, or 41 sen to RM5.24. JF Technology jumped 25.17%, or 38 sen to RM1.89. KESM rose 34 sen to RM17.18 and Unisem advanced 27 sen to RM7.72.

Other counters, Dufu Technology added 14 sen to RM3.92, Pentamaster gained 17 sen to RM6.17 and MPI climbed 12 sen to RM30.38.

According to International Data Corporation (IDC), global semiconductor revenue is forecast to increase to US$450bil this year and climb to US$500bil in market size in 2024, with steady annual growth between 4% and 6%.

Underpinning the growth is the recovery in economic growth after the Covid-19 pandemic and this is expected to spark an expansion of the semiconductor industry, according to the virtual SEMI industry strategy symposium (ISS) last week.

The US-based Semiconductor Equipment Manufacturers Industry (SEMI) said in a statement posted on its website that global semiconductor revenue is set to rise as much as 7% in 2021.

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Semiconductor , MPI , Unisem , KESM , JF Technology

   

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