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aws账号(www.2km.me)_The changing face of the FBM KLCI

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CLICK TO ENLARGEOVER the last 10 years, technology companies around the world have attracted significant investor interest. Companies like Apple and Microsoft have become the world’s largest companies by market capitalisation.

Tech start-ups have also been drawing in the big bucks from investors. Besides unicorns, which have valuations of at least US$1bil (RM4.14bil), there are also decacorns, which have valuations surpassing US$10bil (RM41.48bil). There are an estimated 700 plus unicorns, out of which, approximately 30 are decacorns.

Despite all that, there is not a single technology company among the constituents of the main index of Bursa Malaysia, namely, the FBM KLCI.

The FBM KLCI, which comprises the top-30 largest companies on Bursa Malaysia by market capitalisation, has stocks mainly from the banking, telecommunications and plantation sectors.

Things could change in the next revision of the FBM KLCI constituents, which takes place in December.

A quick check on the largest companies on Bursa Malaysia shows that Inari Amertron Bhd stands a good chance of becoming the first technology company on the index. It is now the 32nd largest company on the local stock exchange.

“Never before has there been a technology company on the FBM KLCI. But it looks like Inari could be the first, should its share price continue to rise,” points out Rakuten Trade head of equity sales Vincent Lau.

Other changes to the index have also taken place recently.

“Banks have long made up the heavyweights on the main index. But the Covid-19 pandemic has changed the index components over the past two years. We have seen glove stocks go in and out of the index.

“Then, there is the newcomer MR DIY Group Bhd, which made it into the list in June, when it replaced glove maker Supermax Corp Bhd,” he adds.

Meanwhile, the Covid-19 pandemic has accelerated the digitalisation trend, as customers shifted to online platforms, in turn forcing businesses to adopt more technology processes.

This fast-paced technology adoption has resulted in semiconductor chip shortages globally.

Malaysia’s electrical and electronics (E&E) companies play a significant role in the supply of chips that are used in cars, smartphones, laptops and home devices.

Over the last one year, the Bursa Malaysia Technology Index has risen more than 60%. “The changes in the past two years reflect the interest from investors and understandably some sectors gained prominence.

“We understand that FBM KLCI may not be sectoral based, but going forward with the increasing push for technology, and the fact that our exports are predominantly contributed by the E&E sector, we could see representatives in the technology sector in the FBM KLCI,” says MIDF Research head Imran Yassin Yusof.

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