technology-linked shares climb on fine vibes for sector

kuala lumpur (june 27): era-related shares on bursa malaysia rose in early alternate on monday (june 27), following advantageous vibes for the world.

at 9.50am, many of the gainers have been malaysian pacific industries bhd (mpi) which rose three.forty three% or ninety six sen to rm28.ninety six, vitrox corp bhd, up 4.65% or 33 sen to rm7.forty three, kesm industries bhd which brought four.97% or 32 sen to rm6.seventy six, pentamaster corp bhd, up five.seventy nine% or 21 sen to rm3.eighty four, uwc bhd, up 4.07% or 14 sen to rm3.58, and greatech era bhd, up 2.94% or eleven sen to rm3.85.

kenanga research has maintained its “obese” score of the technology area getting into the 1/3 area of 2022 (3q22), premised on resilient chip demand as the semiconductor enterprise affiliation suggested a 23% 12 months-on-yr (y-o-y) growth in semiconductor income in 1q22.

in a note on monday, the research residence said that the cargo numbers for automobile income and customer cease-gadgets did now not mirror the identical optimism.

“we characteristic this to the sporadic lockdowns in china, inflicting backlogs to pile up.

“we continue to be selectively superb on the world, favouring groups that were unjustifiably bashed down however nonetheless maintain strong basics to weather via this excessive inflationary and rising interest fee environment,” it said.

kenanga said regardless of weakening cargo numbers for global smartphones (1q22: -eight.nine% y-o-y), the united states phone manufacturer turned into the best emblem to record a moderate increase of 2.2% y-o-y and is expected to keep its manufacturing unchanged for its upcoming new model.

“as such, we love inari amertron bhd (outperform [op]; goal charge [tp]: rm3.30) for being in the us phone deliver chain with a logo this is capable of keep growing its unswerving person base.

“with the chinese language authorities easing back on lockdowns, automobile sales inside the eu union and china posted encouraging numbers (may 2022: +68% and +15.6% month-on-month respectively), resuming the healing fashion.

“this bodes for mpi (op; tp: rm38.10) given its strong car exposure and more importantly having a head start in next-generation programs which are gradually being adopted in electric cars,” it said.

kenanga said that transferring far from extreme competition surrounding household cleansing products, pie industrial bhd (op; tp: rm3.70) offers an thrilling investment case given its exposure to unique clients with solid order visibility.

“the brand new chinese customer (regarding asic computer hardware) secured due to exchange diversion is predicted to make contributions meaningfully to the organization’s income for the financial yr finishing dec 31, 2022,” it said.

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