Hot Stocks Tech stocks stage a rebound after yesterday's slump

by **Cals** Thu 13 Aug 2015, 20:26

Hot Stocks
Tech stocks stage a rebound after yesterday's slump

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By Gho Chee Yuan / theedgemarkets.com | August 13, 2015 : 2:15 PM MYT

KUALA LUMPUR (Aug 13): Shares of semiconductor and technology-related (tech) stocks listed on Bursa Malaysia today staged a rebound by as much as 11.76% after yesterday's slump.

theedgemarkets.com reported yesterday that semiconductor and technology-related companies retreated as much as 9% although the US dollar continued to strengthen against the ringgit, which should have been a boon for the exports-focused industry.

At the time of writing, the greenback was seen weaker against the ringgit, declining 0.34% to 4.0140 per dollar. Its all-time high against the ringgit was seen on Jan 9, 1998, when it hit 4.7125 per US dollar.

Among the major tech stocks on the rise today was [size=14]Inari Amertron Bhd, which led the top gainers among tech stocks on the Main Market by adding 24 sen or 8.3% to trade at RM3.13, with 2.58 million shares changed hands.

It was followed by Vitrox Corp Bhd, which gained 19 sen or 6.71% to settle at RM3.02, with 178,100 shares done.

KESM Industries Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) advanced 13 sen or 3.54% to trade at RM3.80, with 74,900 shares traded.

Malaysian Pacific Industries Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) climbed 11 sen or 1.82% to trade at RM6.16 at the midday break, with some 170,600 crossed hands.

On the ACE Market, Microlink Solutions Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose 14 sen or 11.76% to trade at RM1.33, making it the leader on the ACE market's technology sector.

JHM Consolidated Bhd was up 3.5 sen or 9.59% at 40 sen, with some 699,800 shares changed hands.

IFCA MSC Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) added three sen or 3.95% at 79 sen, with some 19.09 million shares done.

Despite the rebound, it is worth pointing out that analysts have warned that local semiconductor players may face heated competition from China manufacturers.

This was due to the China government saying it would be injecting some 120 billion yuan (about US$19.2 billion) to boost its domestic integrated circuit (IC) industry.

"This would probably heighten competition among local semiconductor players vying for the same customers as China manufacturers may offer a more competitive [prices]," an analyst told theedgemarkets.com yesterday.

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