Hot Stocks Unisem, MPI gain on global semiconductor sales report

by **Cals** Wed 06 Aug 2014, 01:05

Hot Stocks Unisem, MPI gain on global semiconductor sales report

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Tuesday, 05 August 2014 10:02

KUALA LUMPUR (Aug 5): Unisem (M) Bhd and Malaysian Pacific Industries Bhd (MPI) rose as much as 2% and 0.5% respectively on news that global semiconductor sales increased 10.8% in June from a year earlier.

At about 9.45am, Unisem was traded at RM1.71 with 126,700 shares done. The stock had earlier risen as much as three sen to RM1.73.

MPI climbed as much as three sen to RM6 on thin trade of 7,500 shares.

The US-based Semiconductor Industry Association said in a statement on its website that June 2014 global semiconductor sales rose 10.8% on year to US$27.57 billion (RM88.02 billion) from US$24.88 billion.

According to the association, which represents US semiconductor producers, the June sales figure was the global industry’s highest monthly sales ever. Cumulative first-half world semiconductor sales rose 11.1% from a year earlier, the association said.

In Malaysia, BIMB Securities Sdn Bhd wrote in a note today the immediate technical support and resistance for Unisem's share price were seen at RM1.675 and RM1.725 respectively.

For MPI, the suppport and resistance are estimated at RM5.93 and RM6.01 respectively.

Improvement in the electrical and electronic (E&E) sector, which forms a crucial component of the Malaysian economy, has been closely watched.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed told theedgemalaysia.com in June this year that the country's E&E exports were expected to gain from a cyclical uptrend in the global industry over the next one year.

Mustapa said then the E&E sector growth was seen to be steady in the second half of this year.

Tomorrow (August 6), the Statistics Department will announce the country's June export numbers.