However, the research unit told StarBiz in a emailed response that despite the tech sell-off this year, it believes the sector remains attractive in the mid to long-term horizon. “Also, the strong US dollar could cushion the current downward pressure on our tech stocks, whereby they are mostly the net beneficiaries. The research unit also said any rally in Malaysian tech stocks as a result of cross-market spillover effect from Wall Street would be short term. “We maintain our opinion that the outlook of tech stocks remain uncertain in near term,” said MIDF Research. Wong said the sector may have been oversold and most of the negatives have been priced in.

Source: The Star October 25, 2022 14:03 UTC