Chip Stocks Slide On Bursa As Nestlé Bucks Weak Market

Technology-linked counters came under selling pressure on Bursa Malaysia on Sept 24, with Malaysian Pacific Industries Bhd (MPI), MI Technovation Bhd, Unisem (M) Bhd and Pentamaster Corporation Bhd among the biggest decliners, while Nestlé (M) Bhd led the gainers.

Market breadth was firmly negative, with 677 losers outpacing 436 gainers. Another 542 counters were unchanged, 1,246 untraded and 27 suspended.

MPI topped the losers’ list after shedding RM1.08 to RM43.50, followed by Batu Kawan Bhd, which fell 54 sen to RM20, while MI Technovation dropped 32 sen to RM5.81. Unisem lost 24 sen to RM4.50, followed by Pentamaster, which declined 23 sen to RM5.18.

On the upside, Nestlé was the top gainer, jumping RM1.96 to RM91.46, followed by Ajinomoto (M) Bhd, which gained 38 sen to RM19.64, while Pekat Group Bhd advanced 24 sen to RM2.64.

Northern Solar Holdings Bhd rose 16 sen to RM1.18, while MISC Bhd added 15 sen to RM7.92.

Turnover increased to 3.32 billion units worth RM2.74 billion from 3.2 billion units valued at RM2.99 billion on Sept 23.

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