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KUALA LUMPUR (September 2): Technology-related stocks Malaysia Pacific Industries Bhd (MPI), UWC Bhd and KESM Industries Bhd were among the top 10 winners in Bursa Malaysia today.
Malacca Securities head of research Loui Low said the new interest in tech stocks is likely an indirect effect of strong demand for tech stocks in the US overnight, which caused the Nasdaq Composite Index to close. in a record of 11,939.67 with a gain of 164.21 points or 1.39%.
Shares in MPI rose as much as 10.59% or RM1.80 to a record RM18.80. The accountant cut earnings to close at RM18.50, its highest close in two decades, for a gain of 8.82% or RM1.50, with 1.77 million shares traded. This gives MPI a market capitalization of RM3.68 billion.
MPI was the second biggest winner of the day at Bursa Malaysia. So far this year (YTD), the counter has increased by 62%.
UWC hit a record RM7 after rising 18.04% or RM1.07. It closed at RM6.70 with a gain of 12.98% or 77 sen, making it the fourth biggest winner in Bursa. The stock has risen more than three times the previous year from RM2.13.
At the current level, the counter has a market capitalization of RM3.69 billion.
KESM, the sixth biggest winner of the day, saw its price rise 5.98% or 52 sen to an intraday high of RM9.21, before closing at RM9.20, for a market capitalization of RM395.73 million. Some 175,000 shares changed hands.
The stock, however, is still down 2.5% to date.
Other tech stocks gaining traction today include semiconductor test connector maker JF Technology Bhd, whose share price rose 5.31% or 21 sen to RM4.17.
Notion Vtec Bhd was up 13.51% or 15 sen at RM1.26, while Greatech Technology Bhd was up 2.47% or 17 sen at RM7.04.
Elsewhere, My Technovation Bhd was up 5.91% or 25 sen to RM4.48, JCY International Bhd soared 14.07% or 9.5 sen to 77 sen and Globetronics Technology Bhd was up 3.18% or nine sen at RM2.92
The Bursa Malaysia Technology Index closed 2.97% or 1.7 points higher at 59.01, from 57.67 previously.
Edited by S Kanagaraju
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