Shares of PNE Micron (PNMC.SI) surged 14.3% to $0.04 on Wednesday, leading a rally in Singapore-listed technology shares after Intel’s (INTC.O) better-than-expected forecasts, traders said.

PNE Micron’s businesses include provides coating services for hard disk drives and automotive parts. Over 5 million PNE Micron shares had changed hands by 10:49 a.m.

Shares of another technology play, contract manufacturer Sunningdale Tech (SUND.SI), rose 2.2% to $0.235, with over 11.6 million shares traded.

Resilient demand for computers and servers helped Intel’s margin and revenue forecasts blast Wall Street expectations, allaying fears of a technology spending slowdown.