Globetronics, KESM climb following US tech stocks' overnight rise

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KUALA LUMPUR (April 27): Globetronics Technology Bhd and KESM Industries Bhd shares advanced today among Bursa Malaysia top gainers following US technology stocks' overnight rise on Thursday.

At 4:17pm today, Globetronics gained 30 sen to RM4.23 while KESM was up 28 sen at RM16.02.

Reuters reported that US stocks advanced on Thursday with each of Wall Street's major indexes ending the session up 1% or higher, boosted by solid earnings results and a rebound in technology stocks as US bond yields pulled back.

It was reported that the tech-heavy Nasdaq snapped a five-day losing streak while the S&P technology index booked its first up day in six sessions. The Nasdaq closed 114.94 points or 1.64% higher at 7,118.68.