Tech stocks continue to hog the limelight

Tech stocks continue to hog limelight

Tech stocks continue to hog limelight

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KUALA LUMPUR (Sept 27): Technology and semiconductor stocks continued to steal the limelight on Bursa Malaysia on Monday amid the global semiconductor chip shortage and expectation of the deployment of new technologies in gadgets and devices.

The technology index hit a five-year peak of 96.88 points last Friday (Sept 24) and closed at 96.63 on Monday.

Shares of Malaysian Pacific Industries Bhd topped the gainers' list on Bursa, rising as much as 5.3% to reach an intraday high of RM47.60 before paring some gains to close at RM46. The stock has risen 80.31% year to date, bringing a market capitalisation of RM9.65 billion.

KESM Industries Bhd, VisDynamics Holdings Bhd, ViTrox Corp Bhd and Mesiniaga Bhd were also among the star performers on Bursa as investors are positive about the prospects of the industry ahead.

KESM shares rose as much as 6.7% to hit an intraday high of RM13.40. It settled at RM13.14 for a market capitalisation of RM565.21 million, emerging as the third highest gainer. However, it has fallen 4.09% so far this year.

This was followed by VisDynamics, which closed up 24 sen or 17.52% at RM1.61, bringing a market capitalisation of RM280.78 million. Its share price has doubled year-to-date (YTD).

ViTrox's stock also closed higher at RM20.82, up 32 sen or 1.56% from Friday's closing price, valuing the company at RM9.83 billion. ViTrox shares have risen 43.59% YTD.

Mesiniaga shares surged as much as 12.8% to hit an intraday high of RM1.67 before paring some gains to close at RM1.59, bringing a market capitalisation of RM96.04 million. It has risen 23.26% since the beginning of this year.

Kang Siew Li