Tech stocks see pick-up on record global semiconductor sales

Tech stocks see pick-up on record global semiconductor sales
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KUALA LUMPUR (March 7): Technology-related stocks on Bursa Malaysia were boosted today after a year-on-year jump of 13.9% in global semiconductor sales in January.

Unisem (M) Bhd rose as much as 4 sen or 1.37% to a five-year high of RM2.95 before pulling back to RM2.94 as at 3.31pm with some 1.05 million shares traded.

Elsewhere, Globetronics Technology Bhd increased 5 sen or 1.07% to RM4.65 with 270,600 shares crossed, and Vitrox Corp Bhd rose 3 sen to RM4.23 on a volume of 954,000 shares.

Visdynamics Holdings Bhd climbed to 66 sen before dipping to 64 sen after the noon break, down half sen from yesterday.

US-based Semiconductor Industry Association said the global industry was off to a strong and encouraging start to 2017, posting its highest-ever January sales and largest year-to-year sales increase in more than six years.

"Following the industry's highest-ever revenue in 2016, the global market is well-positioned for a strong start to 2017," said its CEO John Neuffer.