The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
KUALA
LUMPUR (Dec 18): The FBM KLCI declined 1.43 points or 0.1% as investors
took profit after the KLCI's substantial rise last week pushed the
index into overbought territory.
At 5pm today, the KLCI closed at 1,751.64 points. On Friday (Dec 15), the KLCI fell 13.35 points to 1,748.5 points. On Thursday, the KLCI rose 21.34 points to close at 1,759 points on banking stock gains amid fund managers' year-end window dressing.
Today, TA Securities Holdings Bhd wrote in a note: "Last week's rally spike on the FBM KLCI to a two-month high lifted daily momentum indicators into deeply overbought territory, suggesting profit taking is needed to consolidate short-term gains and neutralise excessive overbought momentum."
Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that although foreign funds are coming back into the Malaysian stock market, they may not buy local shares every day.
"There are times they take profit and I don’t think there was big concerted window dressing so far,” he said.
Across Bursa Malaysia, trading volume was 2.4 billion shares worth RM2.17 billion. There were 350 gainers versus 451 decliners, Malaysian shares bucked Asian equities' rise. Japan’s Nikkei 225 gained 1.55% while Hong Kong's Hang Seng rose by 0.7%.
Reuters reported that Asian shares edged up on Monday, with sentiment boosted by expectations US lawmakers will pass a long-awaited tax Bill this week, while Chinese stocks were soggy on concerns about liquidity and tighter regulations in the world’s second largest economy.
Source: The Edge
At 5pm today, the KLCI closed at 1,751.64 points. On Friday (Dec 15), the KLCI fell 13.35 points to 1,748.5 points. On Thursday, the KLCI rose 21.34 points to close at 1,759 points on banking stock gains amid fund managers' year-end window dressing.
Today, TA Securities Holdings Bhd wrote in a note: "Last week's rally spike on the FBM KLCI to a two-month high lifted daily momentum indicators into deeply overbought territory, suggesting profit taking is needed to consolidate short-term gains and neutralise excessive overbought momentum."
Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that although foreign funds are coming back into the Malaysian stock market, they may not buy local shares every day.
"There are times they take profit and I don’t think there was big concerted window dressing so far,” he said.
Across Bursa Malaysia, trading volume was 2.4 billion shares worth RM2.17 billion. There were 350 gainers versus 451 decliners, Malaysian shares bucked Asian equities' rise. Japan’s Nikkei 225 gained 1.55% while Hong Kong's Hang Seng rose by 0.7%.
Reuters reported that Asian shares edged up on Monday, with sentiment boosted by expectations US lawmakers will pass a long-awaited tax Bill this week, while Chinese stocks were soggy on concerns about liquidity and tighter regulations in the world’s second largest economy.
Source: The Edge
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