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 24): Bursa Malaysia ended the week lower on lack of buying momentum.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.28 points, or 0.47%, to 1,532.06, from Thursday’s close of 1,539.34.
The index, which opened 3.06 points higher at 1,542.4, moved between 1,525.64 and 1,543.35 throughout the day.
Market breadth was negative with decliners outpacing gainers 576 to 418, while 466 counters were unchanged, 852 untraded, and 15 others suspended.Turnover rose slightly to 4.78 billion units worth RM3.34 billion from Thursday’s 4.74 billion units worth RM3.54 billion.
The weaker performance of the local bourse was also in line with most key regional markets amid the uncertainty surrounding the fate of debt-ridden China property developer Evergrande group.
“We believe investors remained cautious after the global market sell-off earlier this week,” Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama.
Regionally, Japan’s Nikkei 225 advanced 2.06% to 30,248.81, Hong Kong’s Hang Seng Index slid 1.3% to 24,192.16 and Singapore’s Straits Times Index shed 0.41% to 3,061.56.
Back home, Bursa Malaysia heavyweights Petronas Chemicals Group Bhd advanced three sen to RM8.11, IHH Healthcare Bhd and Hong Leong Bank Bhd were flat at RM6.64 and RM18.64 while Malayan Banking Bhd fell five sen to RM8.10.
Public Bank Bhd eased two sen to RM4.04 and Tenaga Nasional Bhd shed 13 sen to RM9.86.
Of the actives, Kejuruteraan Asastera Bhd gained 1.5 sen to 41 sen, Tanco Holdings Bhd increased 1.5 sen to 26 sen, Fintec Global Bhd was flat at two sen, Pasukhas Group Bhd inched down half-a-sen to six sen, and Dagang NeXchange Bhd eased two sen to 81 sen.
On the index board, the FBM Emas Index declined 28.82 points to 11,276.01, the FBMT 100 Index was 31.01 points easier at 10,973.52, while the FBM Emas Shariah Index reduced 9.5 points to 12,304.03.
The FBM 70 bagged 39.69 points to 15,011.79, while the FBM ACE added 40.68 points to 7,162.22.
Sector-wise, the Industrial Products and Services Index gained 0.71 of-a-point to 200.56, the Plantation Index went down 51.28 points to 6,295.65, and the Financial Services Index lost 77.92 points to 15,193.44.
The Main Market volume increased to 3.23 billion shares worth RM2.85 billion from Thursday’s 3.16 billion shares worth RM3.07 billion.
Warrants turnover went up to 390.75 million units, valued at RM75.28 million, versus 384.26 million units worth RM61.70 million yesterday.
The volume on the ACE Market eased to 1.15 billion units worth RM403.39 million from 1.18 billion units worth RM405.22 million on Thursday.
Consumer products and services counters accounted for 527.87 million shares traded on the Main Market, industrial products and services (1.33 billion), construction (91.43 million), technology (468.38 million), SPAC (nil), financial services (49.66 million), property (214.08 million), plantation (19.56 million), REITs (7.57 million), closed/fund (54,000), energy (306.82 million), healthcare (77.6 million), telecommunications and media (35.45 million), transportation and logistics (75.12 million) and utilities (23.74 million).
Source: The Edge
Comments
Post a Comment