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 (March 27): The FBM KLCI continued to head south today in the absence of positive catalysts to spark buying interest.
The benchmark index closed at the lowest level this year at 1,642.73 points today, down 7.21 points or 0.44%, after it had hovered between 1,641.89 points and 1,650.22 points.
Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com that while the Malaysian market is expected to remain volatile in the near term, investors could look for buying opportunities for companies that have a positive outlook.
“The local market remained under pressure despite overnight rebound at Dow Jones Industrial Average, because there is not much catalyst, so the near-term prospect is largely depending on external factors.
“The inverted yield curve is still there and we expect the market to
remain volatile for a while, but we see some opportunity now as the
market was down from its recent high,” Wong said.
He added that there are undervalued stocks with good fundamentals that are worth a second look.
In the domestic market, Bursa Malaysia saw 2.07 billion shares worth RM1.71 billion traded with 393 gainers versus 404 losers, while 365 counters remained unchanged.
Notable gainers included Lafarge Malaysia Bhd and Rapid Synergy Bhd, while losers included Public Bank Bhd and Genting Bhd.
Iris Corp Bhd was the most actively traded counter today with 97.83 million shares traded.
Reuters reported that most Southeast Asian markets are down today as investors remained concerned about a potential recession in the US, with Philippines declining to a one-week trough.
It added that sentiment remained cautious although the 10-year US Treasuries yield rose as high as 2.432% from Monday's 15-month low.
The inverted yield curve has spooked the global equity markets as such a situation preceded US recessions in the past.
Japan’s Nikkei fell 0.23% today, together with South Korean Kospi, which declined 0.15%, while Hong Kong Hang Seng Index gained 0.56%.
Source: The Edge
He added that there are undervalued stocks with good fundamentals that are worth a second look.
In the domestic market, Bursa Malaysia saw 2.07 billion shares worth RM1.71 billion traded with 393 gainers versus 404 losers, while 365 counters remained unchanged.
Notable gainers included Lafarge Malaysia Bhd and Rapid Synergy Bhd, while losers included Public Bank Bhd and Genting Bhd.
Iris Corp Bhd was the most actively traded counter today with 97.83 million shares traded.
Reuters reported that most Southeast Asian markets are down today as investors remained concerned about a potential recession in the US, with Philippines declining to a one-week trough.
It added that sentiment remained cautious although the 10-year US Treasuries yield rose as high as 2.432% from Monday's 15-month low.
The inverted yield curve has spooked the global equity markets as such a situation preceded US recessions in the past.
Japan’s Nikkei fell 0.23% today, together with South Korean Kospi, which declined 0.15%, while Hong Kong Hang Seng Index gained 0.56%.
Source: The Edge
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