have seen steep declines of around 30% to 70%, while the Technology Index has dropped close to 40%.
Wong also noted that the ringgit had weakened significantly against the greenback, which provides some buffer or downside support to tech companies’ earnings . Meanwhile, Rakuten Trade head of equity sales Vincent Lau thinks that the sell-off in tech-related stocks on Bursa Malaysia has been overdone and it is a matter of time before sentiment turns positive.
He noted that the general market view is that in the second half of 2023, the chip sector may see a recovery when inventories have been run down.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: