Bursa set for rebound, bargain hunting for tech and chip stocks

Rakuten Trade head of equity sales Vincent Lau said the FBM KLCI could see a “technical rebound” with some bargain hunting for technology and semiconductor stocks, which have fallen to more reasonable valuations.“We reckon that the market is oversold and we are seeing emerging valuations of tech stocks which have taken a beating. They are now at more reasonable valuations,” he told StarBiz.

KUALA LUMPUR: The local stock market took yet another beating but analysts say stocks are due for a rebound after being sold down for the past few days.

Rakuten Trade head of equity sales Vincent Lau said the FBM KLCI could see a “technical rebound” with some bargain hunting for technology and semiconductor stocks, which have fallen to more reasonable valuations.