KUALA LUMPUR: Technology stocks were in the spotlight on Bursa Malaysia following the strong recovery rally on Wall Street overnight.

       The tech-heavy Nasdaq, which jumped 2.7% overnight, indicated that investors were eager to pick up on oversold tech counters as the recent Federal Reserve meeting minutes eased fears over an impending recession.

       At 9.05am, the Bursa Malaysia Technology Index was up 1% to 67.57, putting it at the week's highest level.

       Notable gainers included MPI up 58 sen to RM31.68, Pentamaster rising nine sen to RM3.86, and Greatech adding five sen to RM3.78.

       However, the same bullishness did not materialise on the benchmark FBM KLCI despite improved sentiment over the global economy.

       The key index fell 3.21 points to 1,537.94 as bank heavyweights declined on the back of Maybank's recent earnings results.

       Malaysia's largest bank by market cap, Maybank, was seen sliding five sen to RM8.93 after it announced a decline in first-quarter profits year-on-year amid the recent market volatility and weak sentiment.

       Investors turned cautious on the shares of other banks that are scheduled to announced their results later this week and next. Public Bank dropped two sen to RM4.58 while CIMB was unchanged at RM5.01.

       IHH meanwhile fell nine sen to RM6.40 and MISC shed 14 sen to RM7.23.

       Leading the actives on the broader market, Technax was up 0.5 sen to 5.5 se, Ta Win unchanged at 12.5 sen and Sapura Energy gained one sen to 8.5 sen.