KUALA LUMPUR: The FBM KLCI was little changed at the start of Friday's trading as investors awaited the release of US inflation data, which will help to determine the Federal Reserve's next interest rate move.
Rakuten Trade noted, however, that the market undertone received a boost after China confirmed that a meeting has been scheduled with the US in Malaysia.
"We believe sentiment should be bolstered from such upbeat developments, hence expect the index to react positively and hover at between the 1,610-1,620 range today," it said in a note.
The benchmark index opened 0.97 points lower at 1,607.03, but rebounded slightly to a 2.76-point lead at 1,610.76 as at 9.27am.
In the semiconductor space, Vitrox climbed 17 sen to RM4.69 following the release of its third-quarter results yesterday. The electronics inspection solutions firm posted a 54.6% jump in net profit for the 3QFY25 to RM34.7mil from RM22.5mnil a year earlier, supported by robust demand in its automated board inspection and machine vision system segments.
Other semiconductor-related companies were also the target of investor interest, including Pentamaster up nine sen to RM4.14 and MPI gaining 50 sen to RM30.20.
Seeing heavy trading activity, MMAG rose 5.5 sen to 62 sen after announcing that its cargo airline, MJets Air, had launched its first direct freighter service between Kuala Lumpur and Sandakan.
Among blue chips, the banking sector picked up with Maybank gaining four sen to RM9.88, Hong Leong Bank adding 14 sen to RM20.72 and RHB gaining two sen to RM6.78.
