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 (Sept 15): Bursa Malaysia ended flat after a roller-coaster trading session, losing marginally by 0.016% with losers led by Hap Seng Consolidated Bhd, Tenaga Nasional Bhd and Nestle (Malaysia) Bhd, said Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.25 of-a-point to 1,555.26 from Tuesday's close of 1,555.51.
The index, which opened 0.65 of-a-point lower at 1,554.86, moved between 1,549.65 and 1,560.56 throughout the day.
Market breadth was negative with losers beating gainers 519 to 492, while 445 counters were unchanged, 812 untraded and six others suspended.Turnover fell to 4.5 billion units worth RM3.06 billion from 4.66 billion units worth RM3.01 billion on Tuesday.
Thong said buying activities emerged during the last minutes of trading, causing the benchmark index to rebound and close flat.
"Meanwhile, we believe the timing of a windfall tax on glove and plantation companies may be off as many see earnings for both sectors to peak this year amid the declining selling prices going forward," he told Bernama.
He said at current valuations, this was believed to be a good opportunity for investors to bottom fish.
Thong said the FBM KLCI was expected to trend within the 1,560-1,570 range on Friday.
Bursa Malaysia and its subsidiaries will be closed tomorrow (Sept 16) in conjunction with Malaysia Day, and resume operations the following day.
At the close, 13 of the FBM KLCI’s 30 component stocks were lower, while 15 counters chalked up gains and two others were flat.
Among the heavyweights, Malayan Banking Bhd was flat at RM8.29, Public Bank Bhd added one sen to RM4.01, and Petronas Chemicals Group Bhd bagged nine sen to RM8.01.
Hap Seng and Tenaga Nasional lost 18 sen each to RM8.55 and RM10, respectively, while Nestle contracted 10 sen to RM134.70.
Of the actives, Mlabs Systems Bhd rose half-a-sen to 4.5 sen, while Metronic Global Bhd trimmed half-a-sen to 30 sen and KNM Group Bhd decreased one sen to 26 sen.
Top gainers were Genetec Technology Bhd, which firmed RM1.98 to RM35.18; Hong Leong Bank Bhd, which advanced 32 sen to RM18.78; and Tafi Industries Bhd, which bagged 25 sen RM2.94.
Among the top losers, Fraser & Neave Holdings Bhd weakened 48 sen to RM27.04, Panasonic Manufacturing Malaysia Bhd slipped 28 sen to RM30.38, and Riverview Rubber Estates Bhd dropped 27 sen to RM3.10.
On the index board, the FBM Emas Index increased 1.05 points to 11,395.85, the FBMT 100 Index was 1.52 points lower at 11,086.28, and the FBM Emas Shariah Index reduced 13.25 points to 12,477.79.
The FBM 70 fell 1.05 points to 11,395.85 while the FBM ACE perked up 56.46 points to 7,195.75.
Sector wise, the Plantation Index went up 17.06 points to 6,519.45, the Industrial Products and Services Index rose 1.76 points to 199.7, and the Financial Services Index advanced 64.69 points to 15,264.51.
The Main Market volume increased to 3.21 billion shares worth RM2.75 billion from Tuesday's 2.79 billion shares worth RM2.67 billion.
Warrants turnover fell to 318.65 million units valued at RM55.52 million compared to 430.28 million units valued at RM65.47 million previously.
Volume on the ACE Market weakened to 921.38 million shares worth RM253.22 million from 1.41 billion shares worth RM282.02 million yesterday.
Consumer products and services accounted for 513.52 million shares traded on the Main Market, industrial products and services (1.04 billion), construction (124.46 million), technology (243.67 million), SPAC (nil), financial services (75.16 million), property (607.51 million), plantation (53.84 million), REITs (10.27 million), closed/fund (32,600), energy (329.46 million), healthcare (87.67 million), telecommunications and media (71.36 million), transportation and logistics (34.06 million) and utilities (23.97 million).
Source: The Edge
Comments
Post a Comment