Technology sector: Value emerging after recent sell-down?

It has been a roller coaster ride for the Bursa Malaysia Technology Index in the past few months. The index was the top performing index in May 2024 after rising 11.5% during the month and it subsequently hit a peak of 80.63 points in June 2024 before trending sideways in July. In early August, the Technology Index suffered from the Black Monday sell-down in line with global markets. Selling in technology stocks intensified following concerns over Nvidia and the artificial intelligence (AI) bubble.