Quick take: Semicon-linked stocks dominate top gainers’ list

KUALA LUMPUR: Semiconductor-related and chip stocks dominated the top gainers list on Bursa Malaysia in early trade Friday.

KESM INDUSTRIES BHD, Malaysian Pacific Industries Bhd (MPI), Vitrox Corp Bhd are among the top gainers dominating the gainer’s list.

KESM led the pack with the stock adding 5.77%, or 54 sen to RM9.90, MPI gained 20 sen, or 1.7% to RM11.98 while Vitrox advanced 15 sen to RM8.15.

Pentamaster rose one sen to RM4.62 while Globetronics added two sen to RM2.30.

The US-based Semiconductor Industry Association (SIA) said worldwide sales of semiconductors reached US$36.7bil for the month of November 2019, a decrease of 0.3% from the previous month’s total and 10.8% lower than the November 2018 total of US$41.1bil.

“As 2019 winds down, global semiconductor sales continue to lag behind last year’s total, but we’ve begun seeing indications of the modest rebound projected for next year,” SIA president and CEO John Neuffer said in a press release.

“Regionally, the Americas market was the only major market to grow on a month-to-month basis, but sales into the Americas were down substantially year-to-year.”

Source: TheStar