KUALA LUMPUR (Oct 27): Technology-related stocks on Bursa Malaysia pulled back in early trade on Thursday (Oct 27), tracking the overnight fall on Wall Street.
At 9.20am, the technology index had shed 0.19% or 0.11 point to 57.46.
Among the decliners, Hong Seng Consolidated Bhd fell 2.13% or half a sen to 23 sen, Dagang NeXchange Bhd dipped 1.33% or one sen to 74 sen, Censof Holdings Bhd shed 1.69% or half a sen to 29 sen, AwanBiru Technology Bhd fell 1% or half a sen to 49.56 sen, Inari Amertron Bhd dipped 0.42% or one sen to RM2.39, and Mi Technovation Bhd was down 0.89% or one sen to RM1.11.
Reuters said Nasdaq futures fell more than 1% on Wednesday, after disappointing results from technology giants Microsoft Corp and Google parent Alphabet Inc sparked losses in other megacap companies, and raised fears of slowing economic growth.
It said Microsoft posted its lowest sales growth in five years and forecast second-quarter revenue below Wall Street estimates, while Alphabet posted downbeat ad sales and cautioned of a slowdown in advertising spending.