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KUALA LUMPUR (Sept. 10): Shares of technology stocks in Bursa Malaysia remained tepid despite Wall Street rebounding strongly overnight on a technology rally after a three-day losing streak.
Reuters reported that major Wall Street indices rallied yesterday to stop the bleeding after a three-day slide as investors fell back to take advantage of the tech-related stock price revision, a day after the Nasdaq confirmed the territory. of correction.
The Dow Jones Industrial Average closed 439.58 points or 1.6% higher at 27,940.47. The S&P 500 jumped 2% to 3,398.96, while the Nasdaq Composite advanced 2.7% to 11,141.56.
It was the best day for the S&P 500 since June 5, when it rose 2.6%. The Nasdaq had its biggest one-day gain since April 29, when it rose 3.6%, according to CNBC Asia.
Back in Malaysia, Malaysia Pacific Industries Bhd (MPI) was among the top winners at Bursa Malaysia this morning. At 9.50 a.m. M., MPI shares had cut their gains to RM 17, 0.71% or 12 sen. The stock previously rose to $ 17.38, its intraday high so far.
Meanwhile, other tech counters, namely Grand-Flo Bhd, JCY International Bhd and MQ Technology Bhd, were among the top active trading counters on the local exchange.
At 9.50 a.m. M., Grand-Flo’s stock price was up 7.55% or two sen to 28.5 sen. JCY fell 0.64% or half a sen to 77.5 sen, while MQ Technology was unchanged at 16 sen.
At 9.40 a.m. M., The Bursa Malaysia Technology Index had reversed previous gains and was down 0.77% or 0.42 points to 54.01. The indicator previously opened 1.19% or 0.65 points higher at 55.08 and rose to 55.29.
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