Malaysian tech winners from ringgit slump now look risky to top fund

Kuala Lumpur

RIDING out the slump in the Malaysian ringgit by buying technology stocks has lost its allure for one of the country's top-performing funds.

Danny Wong Teck Meng, chief executive officer of Areca Capital Sdn, said he sold all his technology shares in the past month after the equities started to look expensive and the ringgit rebounded.

The Bursa Malaysia Technology Index has surged 52 per cent this year to be the best-performing industry group on the country's benchmark gauge as the falling...

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