Tech Stocks On Bursa Malaysia Rally In Anticipation Of Trump Presidential Win

KUALA LUMPUR, Nov 6 (Bernama) -- Technology and semiconductor-related stocks on Bursa Malaysia surged at today's close, amid anticipation of the Republican candidate Donald Trump's victory over Democrat rival Kamala Harris in the 2024 United States (US) presidential election.

Malaysian Pacific Industries led the gainers, with shares jumping 80 sen to RM26.36 from RM25.56 at yesterday’s close.

Other notable gainers included Frontken Corporation, with shares rising 44 sen to RM4.18 from RM3.74, and Pentamaster Corporation, which gained 32 sen to close at RM4.00 from RM3.68.

Genetec Technology also posted significant gains, with shares climbing 26 sen to 95 sen from 69 sen, while UWC Bhd advanced 22 sen to RM2.60 from RM2.38.

At the close of trading, the Technology Index on Bursa Malaysia rose by 3.59 points to 61.67 from 58.08, underscoring strong investor confidence in the sector.

Meanwhile, as of 5 pm, the key benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70.

The robust performance in the technology sector reflects heightened investor optimism amid anticipated shifts in US political and economic policies following Trump's expected election victory.

Trump is projected to win a second term as US President after surpassing the 270 electoral vote threshold with a victory in Wisconsin, becoming the 47th President of the United States.

-- BERNAMA