KUALA LUMPUR (Oct 16): The FBM KLCI opened higher today with Asian stock markets after the US' Friday equity gains and as investors evaluated the US' latest inflation data.

At 9am today, the KLCI rose 3.98 points or 0.2% to 1,759.30 points. At 9:04am, the KLCI was traded at 1,759.07 points.

Across Bursa Malaysia, 208.42 million shares worth RM49.61 million were traded at 9:04am. There were 175 gainers and 66 decliners.

"On the local front, we think the trading activities could continue to focus on lower liner and penny stocks within the technology sector. Also, oil and gas stocks may be lifted by the firmer crude oil prices last week," Hong Leong Investment Bank Bhd analyst Loui Low Ley Yee wrote in a note today.

Across Asian share markets, Japan's Nikkei 225 rose 0.75% while South Korea's Kospi added 0.21% as investors reacted to the US' equity gains on Friday when the country also announced its September inflation data, which was below market forecast.

Such inflation sentiment led to expectation that US interest rates will rise at a slower pace. A slower pace in US interest rate hikes bodes well for Asian markets on expectation that investors will buy higher-yielding Asian assets.

Reuters reported today that Asian shares advanced to new highs on Monday following Wall Street's lead, while U.S. oil futures jumped to hover near a six-month peak as escalating tensions between the Iraqi government and Kurdish forces threatened supply.

On Friday, Reuters reported that the dollar slipped against a basket of currencies after data showed U.S. consumer prices rose less than expected in September, pointing to muted inflation that could worry Federal Reserve officials. The Labor Department said on Friday its Consumer Price Index jumped 0.5 percent last month after advancing 0.4 percent in August. Economists polled by Reuters had forecast a 0.6 percent increase.