The tech stock rally pushed the Bursa Malaysia Technology Index to a two-year high.
The Bursa Malaysia Technology Index was up 2.5% to 79.37 points, its highest level since July 2024. Research houses highlighted developments in the artificial intelligence (AI) semiconductor supply chain as factors that could further influence gains for domestic technology stocks.
SkyeChip rose as much as 10.3% or 31 sen to RM3.33 before paring its gains to close 7.6% higher at RM3.25, valuing it at RM5.84 billion. A total of 23.4 million shares were traded.
The semiconductor design firm has surged 269% from its initial public offering (IPO) price of 88 sen after it was listed on May 20.
NationGate jumped as much as 8.4% or 12 sen to RM1.55 before closing 1 sen less at RM1.54, giving it a market capitalisation of RM3.51 billion. Its shares have risen 69% year to date.
The electronic manufacturing services company was the second most traded stock on Bursa Malaysia with 66.8 million shares changing hands.
Dagang NeXchange Bhd was the most actively traded stock with more than 150 million shares traded. It was up 6.4% or 3 sen, closing at its intraday high of 50 sen, valuing it at RM1.74 billion.
The technology and digital services group owns a majority stake in SilTerra Malaysia, a chipmaker that manufactures semiconductor wafers and supplies global fabless design companies.
Recently-listed Stratus Global Holdings Bhd rose as much as 5.9% or 17 sen to RM3.05 before closing 2 sen or 5.2% lower at RM3.03, valuing it at RM3.79 billion. A total of 16.3 million shares changed hands.
The semiconductor automation specialist has surged 279% from its IPO price of 80 sen following its listing on July 21.
Meanwhile, Inari Amertron Bhd was up 5% or 12 sen to RM2.52, giving it a market cap of RM9.67 billion. Shares of the semiconductor assembly and test company is up 45% year to date.
BIMB Securities said the AI investment cycle is expanding beyond computing power into areas including “high-speed optical connectivity, AI accelerators, advanced packaging and semiconductor infrastructure”.
In a research note today, it said the local semiconductor ecosystem is gaining traction across these segments, while companies are gradually moving into higher-value activities such as integrated circuit design, photonics, advanced packaging, semiconductor materials and equipment.
It added that supply-chain diversification, driven by geopolitical fragmentation and China’s push for semiconductor self-sufficiency, could also support Malaysia’s position under the China+1 strategy. This strategy seeks to mitigate the risk of investing only in China by diversifying business into other countries.
Public Investment Bank said a proposed US restriction on new-model optical transceivers manufactured in China could encourage further diversification of the optical supply chain towards Malaysia.
“For Malaysian and Asean semiconductor manufacturers, this could translate into greater opportunities in advanced photonics, optical assembly, testing, and packaging as multinational companies diversify production away from China,” it said in a note. - FMT
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