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Russia Holds Key Rate at 21% Amid Surging Inflation

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...

Market Daily Report: Bursa Malaysia ends sharply higher on last trading day of 2021

  KUALA LUMPUR (Dec 31): Bursa Malaysia ended sharply higher to close at its intra-day high on New Year's Eve, after wallowing in the red all day, owing primarily to bargain-hunting activities in the final hour of trading, a dealer said. As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) soared 23.92 points or 1.15% to end at 1,567.53 compared with 1,543.61 at Thursday's close.  The index opened 0.62 of-a-point weaker at 1,542.99 on Friday morning, stayed in the red territory throughout the day, hit a low of 1,531.81 before rebounding to its intra-day high 10 minutes before closing. On the broader market, gainers led losers 479 to 413 while 416 counters were unchanged, 982 untraded, and 31 others suspended. Turnover rose to 2.52 billion units valued at RM1.86 billion from Thursday’s 2.24 billion units valued at RM1.51 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the company expected bargain-hunting activities to co...

Market Daily Report: Bursa Malaysia snaps six-day winning streak to end lower

  KUALA LUMPUR (Dec 30): Bursa Malaysia snapped a six-day winning streak to close lower on Thursday (Dec 30), taking cues from the mixed global market performance amid moderate profit-taking activities.  As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.43 points to end at 1,543.61 compared with 1,545.04 on Wednesday. The index opened 0.31 of-a-point weaker at 1,544.73 on Thursday morning, went through choppy trading throughout the day, and moved between 1,539.57 and 1,547.75. On the broader market, gainers led losers 448 to 408 while 436 counters were unchanged, 1,019 untraded, and 53 others suspended. Turnover fell to 2.24 billion units valued at RM1.51 billion from Wednesday’s 2.41 billion units valued at RM1.83 billion. Key regional indices were mostly in the red following a mixed performance on Wall Street overnight. Japan’s Nikkei 225 lost 0.4% to 28,791.71, South Korea’s KOSPI fell 0.52% to 2,977.65 and Singapore’s Strait Times Index was d...

Market Daily Report: Bursa Malaysia ends at intra-day high after choppy trading

  KUALA LUMPUR (Dec 29): Bursa Malaysia recouped earlier losses to close at its intra-day high on Wednesday (Dec 29) after experiencing choppy trading throughout the day. As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.15 points to end at 1,545.04 compared with 1,539.89 on Tuesday. The index opened 0.5 of-a-point higher at 1,540.39 on Wednesday morning and hit a low of 1,536.45 later before rebounding towards the close. On the broader market, gainers led losers 462 to 393, while 449 counters were unchanged, 1,007 untraded, and 37 others suspended. Turnover increased to 2.41 billion units valued at RM1.83 billion from Tuesday’s 2.16 billion units valued at RM1.65 billion. Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the key index put on modest gains during the afternoon session after enduring a slight decline in the morning. “A total [of] 449 counters ended up higher today versus 393 decliners, suggesting that the market is well sup...

Market Daily Report: Bursa Malaysia ends higher tracking regional peers, Wall Street

  KUALA LUMPUR (Dec 28): Bursa Malaysia gained 0.39% at the close on Tuesday (Dec 28) in tandem with regional markets and overnight Wall Street performance. As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.98 points to end at 1,539.89 compared with 1,533.91 recorded at Monday's close. The index opened 2.07 points higher at 1,535.98 and moved between 1,535.86 and 1,542.2 throughout the day. On the broader market, gainers outpaced losers 591 to 304, while 431 counters were unchanged, 984 untraded, and 14 others suspended. Turnover slipped to 2.16 billion units valued at RM1.65 billion from Monday’s 2.21 billion units valued at RM1.36 billion. Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said risk-taking mode has prevailed, as demonstrated by the bullish performance of key equity indices. “Perhaps, the FBM KLCI could end the week on a better footing,” he told Bernama . He also highlighted that from the technical point of view, ...

Market Daily Report: Bursa Malaysia ends higher on bargain hunting, window dressing

  KUALA LUMPUR (Dec 27): Bargain-hunting and window-dressing activities particularly in glove and banking stocks lifted Bursa Malaysia to end higher on Monday (Dec 27), with the benchmark index gaining 1.15%. As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) surged 17.46 points to end at 1,533.91 compared with 1,516.45 at Friday’s close. The index opened 0.92 of-a-point higher at 1,517.37 and moved between 1,515.1 and 1,535.93 throughout the day. On the broader market, gainers outpaced losers 486 to 335, while 424 counters were unchanged,1,065 untraded, and 14 others suspended. Turnover increased to 2.21 billion units valued at RM1.36 billion from Friday’s 1.88 billion units valued at RM911.77 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the company reckoned that some bargain-hunting and window-dressing activities would continue given the cheap valuations of the local market as compared to regional peers. “On the oth...

Market Daily Report: Continued buying support pushes Bursa Malaysia to close at intra-day high

  KUALA LUMPUR (Dec 23): Continued buying support in selected heavyweights led by Press Metal Aluminium Holdings Bhd and Sime Darby Plantation Bhd pushed Bursa Malaysia to end at an intra-day high, in line with positive performance in regional markets, dealers said. The two counters contributed a combined 7.62 points to the increase in the barometer index, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 16.1 points or 1.07% to end at 1,516.42 compared with 1,500.32 at Wednesday’s close. The index opened 0.51 of-a-point weaker at 1,499.81, the lowest level for the day. On the broader market, gainers thumped losers 448 to 353, while 424 counters were unchanged, 1,077 untraded, and 16 others suspended. Turnover declined to 1.99 billion units valued at RM1.38 billion from Wednesday’s 3.12 billion units worth RM1.6 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Malaysian equities continued to trend higher on ...

Market Daily Report: Bursa Malaysia closes higher

  KUALA LUMPUR (Dec 22): Bursa Malaysia ended higher on Wednesday (Dec 22) on buying support in selected heavyweights led by Malayan Banking Bhd (Maybank) and Top Glove Corp Bhd, in line with positive performance in regional markets, on favourable outlook of the global economic recovery. The two counters contributed a combined 2.92 points to the rise in the barometer index, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.73 points or 0.52% to end at 1,500.32 compared with 1,492.59 at Tuesday’s close. The index opened 0.15 of-a-point higher at 1,492.74 and fluctuated between 1,492.74 and 1,502.19 throughout the day. On the broader market, gainers thumped losers 450 to 347, while 445 counters were unchanged, 1,058 untraded, and 15 others suspended. Turnover rose to 3.12 billion units valued at RM1.6 billion from Tuesday’s 2.45 billion units worth RM1.67 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Mala...

Market Daily Report: Bursa Malaysia closes marginally lower

  KUALA LUMPUR (Dec 21): Bursa Malaysia ended slightly lower on Tuesday (Dec 21) on continued selling in selected heavyweights led by Top Glove Corp Bhd and Press Metal Aluminium Holdings Bhd, despite the upbeat performance in regional markets. The two counters contributed a combined 1.44 points to the decline in the barometer index, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 1.31 points or 0.09% to end at 1,492.59 compared with 1,493.9 at Monday’s close.  The index opened 1.1 points weaker at 1,492.8 and fluctuated between 1,490.01 and 1,496.24 throughout the day. On the broader market, losers thumped gainers 450 to 354, while 432 counters were unchanged, 1,064 untraded, and 16 others suspended. Turnover eased to 2.45 billion units valued at RM1.67 billion from Monday’s 2.47 billion units worth RM1.73 billion. A dealer said that regionally, most Asian bourses were higher due to bargain hunting following the recent market weakness. ...

Market Daily Report: Bursa Malaysia closes lower

  KUALA LUMPUR (Dec 20): Bursa Malaysia ended lower on Monday (Dec 20) in line with the weaker regional market sentiment, driven by continued selling in selected heavyweights led by Press Metal Aluminium Holdings Bhd and Tenaga Nasional Bhd (TNB). The two counters contributed a combined 4.25 points to the barometer index, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 8.11 points or 0.54% to end at 1.493.9 compared with 1,502.01 at Friday’s close.  The index opened 4.44 points weaker at 1,497.57 and fluctuated between 1,490.77 and 1,502.61 throughout the day. On the broader market, losers thumped gainers 682 to 244, while 369 counters were unchanged, 1,009 untraded, and 21 others suspended. Turnover declined to 2.47 billion units valued at RM1.73 billion from Friday’s 2.81 billion units worth RM2.74 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Malaysian equities ended lower as fears over th...

Market Daily Report: Bursa Malaysia bucks regional trend to end at intraday high

  KUALA LUMPUR (Dec 17): Bursa Malaysia bucked the regional trend to end higher for three straight days on bargain hunting in selected heavyweights led by Tenaga Nasional Bhd and Top Glove Corp Bhd. The two counters contributed a combined 4.45 points to the barometer index, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 17.37 points or 1.17% to end at its intraday high of 1,502.01 compared with 1,484.64 at Thursday’s close. The index opened 0.79 of-a-point better at 1,485.43 and subsequently hit a low of 1,482.39. However, on the broader market, losers led gainers 434 to 425, while 427 counters were unchanged, 1,040 untraded, and 43 others suspended. Turnover declined to 2.81 billion units valued at RM2.74 billion from Thursday’s 2.83 billion units valued at RM2.35 billion. A dealer said Bursa Malaysia saw volatile trading in early session with the FBM KLCI opening marginally higher but retreated thereafter before turning into positive terr...

Market Daily Report: Bursa Malaysia ends marginally higher on improved risk appetite

  KUALA LUMPUR (Dec 16): Bursa Malaysia extended Wednesday's gains to end slightly higher on Thursday on improved risk appetite, taking cue from the Wall Street performance overnight, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.83 points to 1,484.64 from 1,482.81 at Wednesday’s close. The index, which opened 2.65 points better at 1,485.46, moved between 1,483.79 and 1,491.69 throughout the trading session. On the broader market, gainers thumped losers 504 to 361, while 424 counters were unchanged, 1,026 untraded, and 37 others suspended. Turnover improved to 2.83 billion units valued at RM2.35 billion from Wednesday’s 2.82 billion units valued at RM1.74 billion. A dealer said the local bourse opened higher and stayed in positive territory throughout the trading session with the benchmark index ending 0.12% better, lifted mainly by banking stocks. “The performance was in line with regional peers, which tracked the higher Wall Street perf...

Market Daily Report: Bursa Malaysia ends slightly higher in cautious trading

  KUALA LUMPUR (Dec 15): Bursa Malaysia ended slightly higher on Wednesday (Dec 15) on bargain hunting in selected heavyweights amid cautious trading, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.89 points to 1,482.81 from 1,480.92 at Tuesday’s close. The index, which opened 1.2 points better at 1,482.12, moved between 1,475.37 and 1,484.63 throughout the trading session. On the broader market, losers led gainers 442 to 418, while 424 counters were unchanged, 1,033 untraded, and 20 others suspended. Turnover increased to 2.82 billion units valued at RM1.74 billion from Tuesday’s 2.68 billion units valued at RM1.78 billion. A dealer said the local bourse opened higher on bargain hunting after experiencing heavy sell-off on Tuesday, but turned easier from mid-morning until the end of the morning session as selling in heavyweights emerged, led by telecommunication stocks, which weighed on the barometer index. “In the afternoon session, the...

Market Daily Report: Bursa Malaysia ends in the red amid heavy selling pressure

  KUALA LUMPUR (Dec 14): Bursa Malaysia ended in the red on Tuesday (Dec 14), succumbing to heavy selling pressure across the board. The performance was in line with regional peers, as Asian markets took a cue from the weaker overnight performance on Wall Street amid renewed concerns over the spread of the Omicron Covid-19 variant, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 13.94 points to 1,480.92 from 1,494.86 at Monday’s close. The index opened 1.97 points easier at 1,492.89 — its highest level of the day — and fell as low as 1,479.92 in Tuesday's trading. On the broader market, losers thumped gainers 609 to 279, while 404 counters were unchanged, 1,012 untraded and 20 others suspended. Turnover increased to 2.68 billion units valued at RM1.78 billion from Monday’s 2.63 billion units valued at RM1.85 billion. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the local bourse opened lower on profit taking a...

Market Daily Report: Bursa Malaysia ends higher amid Wall Street gains, strong commodity prices

  KUALA LUMPUR (Dec 13): Bursa Malaysia ended higher on Monday (Dec 13), taking a cue from the better performance on Wall Street last Friday (Dec 10) and strong commodity prices amid receding concerns over the Omicron variant’s impact on global economic growth, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.98 points to 1,494.86 compared with 1,488.88 at last Friday’s close. The index, which opened three points higher at 1,491.88, moved between 1,491.85 and 1,501.88 throughout the day. On the broader market, gainers outpaced losers 491 to 386, while 439 counters were unchanged, 979 untraded and 21 others suspended. Turnover increased to 2.63 billion units valued at RM1.85 billion from Friday’s 2.60 billion units valued at RM1.74 billion. A dealer said the local bourse rebounded from last Friday’s losses to open higher and stayed in positive territory throughout the day, bucking the regional market trend which turned mixed at close. Pers...

Market Daily Report: Glove makers drag Bursa down to end at intraday low

  KUALA LUMPUR (Dec 10): A not-so-rosy picture for glove makers' prospects put a dent on the market as Top Glove Corp Bhd and Hartalega Holdings Bhd dragged down Bursa Malaysia to end at its intraday low on Friday (Dec 10). At 5pm, the FBM KLCI settled 12.91 points lower at 1,488.88, compared with 1,501.79 at Thursday’s close. The market bellwether opened 0.14 of a point lower at 1,501.65 and hit its highest of 1,505.41 before dropping. Market breadth remained weak for the whole day with losers trouncing gainers 596 to 277, while 454 counters were unchanged, 978 untraded and 52 others suspended. Turnover decreased to 2.6 billion units valued at RM1.74 billion from Thursday’s 2.73 billion units valued at RM1.59 billion. Normalised average selling prices and demand following mass vaccine roll-outs on a global scale put pressure on Top Glove's earnings for the first quarter ende...

Market Daily Report: Late buying lifts Bursa to end at intraday high

  KUALA LUMPUR (Dec 9): Bursa Malaysia eked out small gains at the close after another yo-yo trading session, lifted by late buying of selected heavyweights led by Axiata Group Bhd.  At 5pm on Thursday (Dec 9), the FBM KLCI settled 7.76 points higher at its intraday high of 1,501.79, compared with 1,494.03 at Wednesday’s close. The market bellwether opened 0.97 of a point lower at 1,493.06 and subsequently hit a low of 1,491.82. Despite the gains in the index, less than 20% of stocks on the local bourse were in positive territory. There were 458 gainers and 401 losers, while 448 counters were unchanged. Some 996 stocks were untraded and 51 others were suspended. Turnover decreased to 2.73 billion units valued at RM1.59 billion from Wednesday’s 3.74 billion units valued at RM2.05 billion. An analyst said there was a lack of fundamental factors to drive the domestic stock market...

Market Daily Report: Bursa ends mixed, KLCI down 3.94 points

  KUALA LUMPUR (Dec 8): Bursa Malaysia ended mixed on Wednesday (Dec 8) after swinging between mild gains and losses throughout the day, mainly due to selling of property, healthcare and consumer products and services stocks. At 5pm, the FBM KLCI closed 3.94 points lower at 1,494.03 from 1,497.97 at Tuesday’s close. The market bellwether opened 2.60 points better at 1,500.57 and moved between 1,491.88 and 1,501.24 throughout the day. The overall broader market was positive with advancers leading decliners 486 to 385, while 450 counters were unchanged, 966 untraded and 20 others suspended. Turnover decreased to 3.74 billion units valued at RM2.05 billion from Tuesday’s 4.29 billion units valued at RM2.25 billion. Some investors were seen taking profit after Tuesday's steady gains. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng s...

Market Daily Report: Bursa Malaysia up 1% on window-dressing activities

  KUALA LUMPUR (Dec 7): Bursa Malaysia turned positive on Tuesday after a broad recovery rally, thanks to window-dressing activities and risk-on mode. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 14.52 points or 0.98% to 1,497.97 from 1,483.45 at Monday’s close. The market recovered most of the losses recorded on Monday, which saw the index hitting its lowest in 13 months. The market bellwether opened 1.49 points better at 1,484.94 and reached its intraday low of 1,484.35 earlier. On the broader market, gainers led decliners 645 to 320, while 404 counters were unchanged, 917 untraded and 20 others suspended. Turnover increased to 4.29 billion units valued at RM2.25 billion from Monday’s 3.66 billion units valued at RM2.57 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the market was mostly lifted by banking and gaming heavyweights. Key regional indices including FBM KLCI ended higher on dwindling worries about t...