Tech stocks top gainers at noon, tracking Huawei 5G plans

Technology-linked stocks emerged as the top three gainers at noon today. ― Picture by Hari Anggara
Technology-linked stocks emerged as the top three gainers at noon today. ― Picture by Hari Anggara

KUALA LUMPUR, Oct 23 — Technology-linked stocks emerged as the top three gainers at noon today, after news that Chinese technology giant, Huawei Technologies Co Ltd, had quietly spent months racing to stockpile critical radio chips ahead of United States President Trump’s sanctions, ensuring it can deliver its 5G orders for next year.

Bursa Malaysia Technology Index rose 1.77 per cent to 61.97 on Friday, boosted by gains among index constituents.

Vitrox Corp, JF Technology and MI Technovation jumped 3.87 per cent, 11.59 per cent and 7.46 per cent to RM14.48, RM5.10 and RM4.75, respectively.

JF Technology, a company involved in high performance test socket manufacturing, became associated with Huawei in July last year.

Other tech-linked stocks which also recorded gains were UWC, which rose 16 sen to RM6.96, and Pentamaster Corp, which added 10 sen to RM5.50. — Bernama

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