Tech stocks active amidst subdued region performance

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KUALA LUMPUR (July 25): While the trading tone in the market remains cautious following anticipation of a busy week with corporate earnings reports and a meeting of the Federal Reserve, technology stocks are however expected to outperform. 

Hong Leong IB Research in a traders’ brief today said selected technology stocks within the ACE market may still outperform the market, “amid better sentiments from the overnight Nasdaq move”.

Overnight, the Nasdaq hit a record high on Monday ahead of a big week of technology earnings reports, while the S&P 500 and the Dow industrials lagged behind as losses in healthcare heavyweight Johnson & Johnson took a toll, according to Reuters. 

Meanwhile, on Bursa Malaysia this morning, the technology index was among the few that traded positively, up 0.49% as at 11:50am.

The ACE Market saw high volume traded in its technology-related stocks.  

As at 11:54am, automated test equipment manufacturer Aemulus Holdings Bhd was up 0.5 sen or 0.82% to 61.5 sen, with 1.99 million shares traded.

G Neptune Bhd, which focuses on IT solutions in the apparel and garment industry, was up 0.5 sen or 6.67% to eight sen, with 1.65 million shares traded.

Green Ocean Corporation Bhd, involved in biotechnology products in palm oil industry, grew 0.5 sen or 2.86% to 18 sen, with 3.8 million shares traded.

As for the main market, software developer GHL Systems Bhd grew one sen or 0.66% to RM1.53, with 1.54 million shares traded.

Inari Amertron Bhd, involved in OSAT & electronics manufacturing services, grew eight sen or 3.35% to RM2.47, with 2.24 million shares traded.

Automation solutions provider Pentamaster Corporation Bhd on the other hand, surged 15 sen or 4.04% to RM3.86, with 934,500 shares traded.