SINGAPORE, May 7 (Reuters) - Technology stocks were lifted after optical disc equipment maker Anwell Technologies said it has agreed to sell solar panels to Brazil Energy, an investment company focused on energy and infrastructure.
Anwell soared as much as 12.5 percent to a five-month high of S$0.090 with over 12 million shares traded. Its shares surged 45 percent on Tuesday.
Other tech shares such as copper recycler Advance SCT gained as much as 7.4 percent to a one-month high of S$3.65 with more than 8.1 million shares traded.
Aztech Systems , which makes internet modems and telephones, rose as much as 7.7 percent to nearly a four-month high of S$0.28 with about 7.7 million shares changing hands.
Digital storage maker Datapulse Technology was up as much as 4.9 percent to S$0.215 -- also the highest in over three months -- with about 5.6 million traded.
"Investors are expecting deals to follow for these tech firms. They are also expecting private equity firms to buy up these tech companies which are quite correctly priced," a dealer said.
Hard-disk components maker Unisteel Technology has received bids from several private equity firms, sources have said, which is the latest takeover target in the tech sector that has seen a wave of consolidation amid stiff competition and falling prices.
Shares of Unisteel were trading flat at S$1.83 per share.
0227 GMT - Straits Times Index up 0.03 percent.
(Reporting by Tan Wei Xin; Editing by Neil Chatterjee) ((weixin.tan@thomsonreuters.com; +65 6403 5667; Reuters Messaging: weixin.tan.reuters.com@reuters.net))
Monday, May 12, 2008
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