Tech-related stocks fall in line with global tech stocks

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KUALA LUMPUR (Nov 28): Technology-related stocks fell across the board at Bursa Malaysia this morning, in tandem with the overnight decline in chipmaker shares at most global markets.

At 11am, the decliners included Malaysia Pacific Industries Bhd, JCY International Bhd, KESM Industries Bhd, Unisem (M) Bhd, ViTrox Coro Bhd, Globetronics Technology Bhd, Cuscapi Bhd, Elsoft Research Bhd and GHL Systems Bhd.

Declines in chipmaker shares weighed on stocks across the globe on Monday, while U.S. energy shares fell as crude dropped and the dollar slipped against the yen, according to Reuters.

U.S. chipmaker stocks fell 1.3% after closing at a record high on Friday. A Morgan Stanley note on global technology downgraded Samsung and Taiwan Semiconductor and argued it is time for a pause for chipmakers, which have seen stellar performance this year, Reuters said.

Tech stocks in Europe fell 0.7%, it added.