Tech stocks rally, six counters reach record high as semiconductor sales forecast points north

Tech stocks rally, six counters reach record high as semiconductor sales forecast points north
-A +A

KUALA LUMPUR (Jan 22): Tech stocks are back on a rally as the Bursa Malaysia Technology Index jumped as much as 3.42% this morning with at least six of its counters reaching record high, as global semiconductor sales and spending forecasts are pointing north for 2021.

Leading the pack, ViTrox Corporation Bhd rose 80 sen or 5.03% to a fresh high of RM16.70 per share, making it the top gainer on Bursa this morning. Its market capitalisation currently stands at RM7.88 billion. 

This was followed by Unisem (M) Bhd, which saw an increase of 75 sen or 9.7% to settle at RM8.48 at noon market break, after slipping from its new high of RM8.59 this morning. 

At third place, UWC Bhd rose 70 sen or 5.95% this morning to a new record high of RM12.46 per share. In the past one year, UWC's share price has increased by more than four-fold. 

Other tech stocks reaching a fresh high today include Pentamaster Corp Bhd (up 5.10% to RM6.18) and Inari Amertron Bhd (up 4.97% to RM3.17). 

Besides that, Malaysian Pacific Industries Bhd was also among the top 10 gainers on Bursa Malaysia with its shares rising 32 sen or 1.07% to RM30.18. 

At noon market break, the Bursa Malaysia Technology Index was up 2.63 points or 3.37% to a record high of 80.59.

Read also: 
HLIB Research foresees 'multi-year earnings growth' for tech sector
Global semiconductor chip sales expected to grow to US$1 trillion in early 2030s

Surin Murugiah