The Spotlight Remains Firmly Focused On Technology Equities

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Bursa Malaysia on Monday, technology and semiconductor stocks continued to steal the show, owing to a global semiconductor chip scarcity and the anticipation of the adoption of new technologies in gadgets and devices.

Last Friday (Sept 24), the technology index reached a five-year high of 96.88 points and ended at 96.63 on Monday.

Malaysian Pacific Industries Bhd topped the Bursa gainers’ list, surging as much as 5.3 percent to an intraday high of RM47.60 before reducing gains to close at RM46. Year to date, the stock has increased by 80.31 percent, resulting in a market value of RM9.65 billion.

KESM Industries Sdn Bhd, VisDynamics Holdings Sdn Bhd, ViTrox Corp Sdn Bhd, and Mesiniaga Sdn Bhd were all among the top performers on Bursa, indicating that investors remain optimistic about the industry’s future prospects.

KESM’s shares increased by as much as 6.7 percent to RM13.40 intraday high. It ended the day at RM13.14, resulting in a market capitalisation of RM565.21 million, making it the third largest gainer. It has, however, decreased 4.09 percent thus far this year.

VisDynamics was next, closing up 24 sen or 17.52 percent at RM1.61, for a market capitalisation of RM280.78 million. Its stock price has more than doubled year to date (YTD).

ViTrox’s share price also increased to RM20.82, up 32 sen or 1.56 percent from Friday’s close, valuing the business at RM9.83 billion. ViTrox’s shares have increased 43.59 percent year to date.

Mesiniaga’s shares increased by as much as 12.8 percent to an intraday high of RM1.67 before reversing course to end at RM1.59, valuing the company at RM96.04 million. It has increased 23.26 percent year to date.

Published by Zack Baharum

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