Technology counters on Bursa Malaysia are feeling the heat following the escalation of trade tensions between the United States and China with restrictions imposed by the Trump-led administration against Chinas telecommunication giant Huawei.
Experts on the industry say it is time for caution for such stocks, especially those related to semiconductors, due to the heightened uncertainties. They are even advising investors to close their positions and re-enter at another appropriate time.
The Bursa Malaysia Technology Index took the heaviest beating among all other indices yesterday, falling 3.47% to 30.90. The benchmark FBM KLCI closed at 1,603.74, down only 0.1%.
Inari Amertron Bhd, Globetronics Technology Bhd and Frontken Corp Bhd were among the toppers.