Inari Amertron Bhd shares traded lower despite recent positive developments surrounding the semiconductor group, including a boardroom appointment and a favourable technical outlook from analysts.
As at 3.45pm, the stock fell two sen or 0.88% to RM2.25, giving up part of its recent gains. The counter traded between RM2.21 and RM2.26 during the session, with more than 51.9 million shares changing hands.
The weakness comes a day after the company announced the appointment of Datuk Phang Ah Tong as its new independent non-executive chairman, effective June 9. Phang, a former Deputy Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), has more than three decades of experience in investment promotion, industrial development and corporate governance.
Market observers view the appointment as a strategic move as Inari continues to expand its semiconductor operations while navigating evolving global supply chain dynamics.
Separately, RHB Investment Bank recently identified Inari as one of its preferred trading ideas, citing bullish technical signals after the stock broke above the RM2.25 resistance level.
According to the research house, the counter’s breakout suggests strengthening momentum, with potential upside targets of RM2.40 and RM2.55 if buying interest remains intact. The bullish view would be negated should the stock fall below the RM2.10 support level.
Despite Wednesday’s decline, Inari remains up about 14% from RM1.97 recorded in early May, reflecting continued investor interest in semiconductor-related counters amid improving sentiment towards the technology sector.
