Tech stocks among Bursa top gainers

KUALA LUMPUR: Technology and semiconductor-related stocks dominated the gainers’ list on Bursa Malaysia in early trade Wednesday.

Bursa Malaysia Technology Index rose 0.58 points to 63.26 points.

Malaysian Pacific Industries Bhd (MPI) rose 18 sen to RM29.16, KESM Industries Bhd added 17 sen to RM7.18 and Greatech Technology Bhd gained 10 sen to RM4.50.

Inari Amertron Bhd climbed seven sen to RM2.77, Vitrox Corp Bhd gained six sen to RM7.95 and Unisem (M) Bhd advanced six sen to RM3.14.

Rakuten Trade believes believe buying interests may persist in technology stocks but cautions that profit-taking activities may emerge following a sharp spike-up since end-May.

Global semiconductor materials market revenue grew 8.9% to US$72.7bil in 2022, surpassing the previous market high of US$66.8bil set in 2021, US-based Semiconductor Equipment Manufacturers Industry (SEMI) said in its latest report.

Wafer fabrication materials and packaging materials revenue in 2022 reached US$44.7bil and US$28.0bil, respectively, increasing 10.5% and 6.3%.

For the 13th consecutive year, Taiwan, at US$20.1bil, was the world's largest consumer of semiconductor materials on the strength of its foundry capacity and advanced packaging base.

China continued to register strong year-over-year results, ranking second in 2022, while Korea finished as the third largest consumer of semiconductor materials. Most regions registered high single- or double-digit growth last year.

Meanwhile, global 300mm fab equipment spending for front-end facilities next year is expected to begin a growth streak to a US$119bil record high in 2026 following a decline in 2023.

According to SEMI, after the projected 18% drop to US$74bil this year, global 300mm fab equipment spending is forecast to rise 12% to US$82bil in 2024, 24% to US$101.9bil in 2025 and 17% to US$118.8bil in 2026.

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