Technology stocks rebound on bargain hunting

Technology stocks rebound on bargain hunting
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KUALA LUMPUR (March 9): Technology-related stocks on Bursa Malaysia rebounded in the morning session today on bargain hunting.

At noon break, ViTrox Corp Bhd rose 52 or 3.56% to RM15.12; Unisem (M) Bhd increased by 29 sen or 3.87% to RM7.79; D&O Green Technologies Bhd grew 25 sen or 7.2% to RM3.72; Pentamaster Corp Bhd increased by 19 sen or 3.62% to RM5.44.

Overall, Bursa Malaysia’s technology index gained 1.03% to 80.63 points.

Areca Capital Sdn Bhd chief executive officer Danny Wong told that he still sees the technology sector as a main growth sector.  

“We still look into its growth over the next three to five years. There will be a structural demand change, where demand will continue to [exceed] the supply.

“There will be innovation, new demand, continued improvement in certain areas, like electric vehicles, semiconductor, 5G. This will continue to drive the shortage along the technology supply chain,” he said.  

Jenny Ng