closed up one sen to 99 sen.
An analyst with a local bank-backed brokerage attributed the strong performance of local tech stocks to the large shift towards digital services that has been accelerated by the Covid-19 pandemic.
“The global pandemic has fuelled the growth for technology. With the concept of work-from-home and distant learning becoming the standard operating procedure, there has been a rise in demand for laptops while data centres have also ramped up their capacity to handle the surge in web computing usage.
“Today, the reliance on tech to get things done has never been greater.”
Rackspace Technology Asia-Pacific and Japan chief technology officer Emma Pudney in a commentary recently said organisations will be looking for ways to recover from the pandemic and serve new consumers with reimagined business models, going into 2021.