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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 rebounds to end higher on bargain hunting

  KUALA LUMPUR (Nov 30): Bursa Malaysia rebounded to close marginally higher on Tuesday due to bargain hunting in selected heavyweights, particularly telecommunications, oil and gas and plantation stocks, said an analyst. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.23% or 3.41 points to 1,513.98 from 1,510.57 at Monday’s closing.  The benchmark index opened 2.01 points firmer at 1,512.58 and moved between 1,511.27 and 1,519.62 throughout the trading session. On the broader market, gainers led losers 576 to 464, while 392 counters were unchanged, 873 untraded, and 63 others suspended. Turnover decreased to 5.67 billion units valued at RM7.97 billion from Monday’s 6.14 billion units worth RM5.19 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Tuesday’s gainers were led by Kuala Lumpur Kepong Bhd, which increased 90 sen to RM21.04; PPB Group Bhd, which rose 82 sen to RM17.82; and Petronas Gas Bhd, which was up...

Market Daily Report: Bursa Malaysia ends lower, market cautious on Omicron variant

  KUALA LUMPUR (Nov 29): Bursa Malaysia closed lower on Monday as the market remained under pressure throughout the day due to lack of buying interest and was further dampened by the spillover effects of regional selldown, said an analyst. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 0.11% or 1.65 points to end at 1,510.57 from 1,512.22 last Friday.  The index, which opened 4.43 points weaker at 1,507.79, moved between 1,501.51 and 1,516.6 throughout the trading session.  On the broader market, decliners thumped gainers 790 to 351, while 376 counters were unchanged, 795 untraded, and 78 others suspended. Turnover increased to 6.14 billion units worth RM5.19 billion from Friday’s 4.9 billion units worth RM3.48 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets also ended lower as investors were cautious over the recently discovered Omicron Covid-19 variant, which may potentially reinstate ...

Market Daily Report: Bursa Malaysia ends lower as markets spooked by new variant

  KUALA LUMPUR (Nov 26): Bursa Malaysia ended broadly lower on Friday in line with regional markets amid weak sentiment following the emergence of a new Covid-19 variant in South Africa as well as a recent surge in new infections in Europe which dampen investor sentiment. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 5.38 points or 0.35% to finish at 1,512.22 from 1,517.6 on Thursday.  The index opened 0.57 of-a-point higher at 1,518.17 and moved between 1,508.97 and 1,518.44 throughout the day. On the broader market, decliners thumped gainers 993 to 195, while 303 counters were unchanged, 821 untraded, and 39 others suspended. Turnover jumped to 4.9 billion units worth RM3.48 billion from Thursday’s 3.81 billion units worth RM2.42 billion.  Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI has broken the 1,520 support level and may test the 1,500 psychological level in the near term. “We believe th...

Market Daily Report: Bursa Malaysia ends lower amid weak sentiment

  KUALA LUMPUR (Nov 25): Bursa Malaysia ended lower on Thursday with the benchmark index below the 1,520 mark amid weak sentiment.  At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 4.67 points to finish at 1,517.6 from 1,522.27 on Wednesday.  The index opened 1.95 points weaker at 1,520.32 and moved between 1,515.43 and 1,523.16 throughout the day. On the broader market, decliners trounced gainers 712 to 302, while 402 counters were unchanged, 925 untraded and 44 others suspended. Turnover increased to 3.81 billion units worth RM2.42 billion from Wednesday's 3.04 billion units worth RM2.09 billion. A dealer said bargain-hunting would emerge as valuations on Bursa Malaysia were still cheaper than regional peers. He expects the benchmark index FBM KLCI to trend between 1,520 and 1,525 towards the weekend. Among the heavyweights, Petronas Chemicals Group Bhd jumped 10 sen to RM8.44, Hong Leong Bank Bhd rose four sen to RM18.32, Axiata Group Bhd ...

Market Daily Report: Bursa Malaysia ends almost flat

  KUALA LUMPUR (Nov 24): Bursa Malaysia ended almost flat on Wednesday due to the absence of fresh catalysts, said an analyst.    At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.61 of-a-point to finish at 1,522.27 from 1,522.88 on Tuesday.  The index opened 1.33 points better at 1,524.21 and moved between 1,521.12 and 1,525.98 throughout the day. On the broader market, decliners led gainers 506 to 402, while 440 counters were unchanged, 993 untraded and 45 others suspended. Turnover increased to 3.04 billion units worth RM2.09 billion from Tuesday's 2.7 billion units worth RM2.35 billion.    Key regional indices, however, ended mixed on bargain hunting. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said foreign funds continued to flow into the region while valuations on the local market remained attractive as compared to regional peers. "Hence, we anticipate the FBM KLCI to hover within the range of 1,5...

Market Daily Report: Bursa Malaysia ends lower, FBM KLCI declines 0.26%

  KUALA LUMPUR (Nov 23): Bursa Malaysia ended lower on Tuesday on lack of buying interest, with the key index declining by 0.26%.  At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.99 points to finish at 1,522.88. The key index moved between 1,521.51 and 1,531.73 throughout the day. The index opened 0.38 of-a-point better at 1,527.25 from 1,526.87 at Monday's close. On the broader market, decliners led gainers 641 to 330, while 462 counters were unchanged, 903 untraded and 18 others suspended. Turnover increased to 2.7 billion shares worth RM2.35 billion from Monday’s 2.45 billion shares worth RM1.99 billion.   Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI remained in its consolidation mode despite a few attempts to break out of the 1,530 mark. “Nonetheless, we reckon the index to see a slight upside from some buying due to prevailing low valuations and expect it to hover within the 1,525-1,535 range for...

Market Daily Report: Bursa Malaysia ends flat on lack of catalysts

  KUALA LUMPUR (Nov 22): Bursa Malaysia ended mixed on Monday, with the benchmark index barely moving due to a lack of catalysts, said an analyst.   At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 1.33 points, or 0.09%,  to finish at 1,526.87. The key index moved between 1,522.71 and 1,529.26 throughout the day. The index opened 1.22 points better at 1,526.76 compared with 1,525.54 at Friday’s close. On the broader market, decliners led gainers 569 to 373, while 449 counters were unchanged, 931 untraded and 19 others suspended. Turnover fell to 2.45 billion shares worth RM1.99 billion from Friday’s 2.67 billion shares worth RM2.01 billion.  Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said investors were concerned about the resurgence of Covid-19 cases and that fresh lockdowns in Europe could affect the global economic recovery. “On the domestic front, the FBM KLCI trended in a tight consolidation mode for m...

Market Daily Report: Bursa Malaysia closes higher on bargain-hunting in telecom counters

    KUALA LUMPUR (Nov 19): Bursa Malaysia ended the week higher on bargain-hunting in selected heavyweights mainly in telecommunications and media counters such as Axiata Group Bhd, Digi.Com Bhd and Maxis Bhd. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.75 points or 0.11% to 1,525.54. It moved between 1,523.14 and 1,527.5 throughout the day. The index opened 1.59 points better at 1,525.38 from 1,523.79 at Thursday’s close. On the broader market, gainers led decliners 474 to 450, while 471 counters were unchanged, 928 untraded and 20 others suspended. Turnover fell to 2.67 billion shares worth RM2.01 billion from Thursday’s 2.81 billion shares worth RM2.12 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI continued to trade range-bound due to the absence of fresh catalysts. “The benchmark index closed a tad higher, lifted mainly by banks and telecommunication heavyweights. “Key regional markets we...

Market Daily Report: Bursa Malaysia takes a dip, in line with regional bourses

  KUALA LUMPUR (Nov 18): Bursa Malaysia finished trading on an easier note on Thursday, dragged down by losses in glove, banking, and gaming counters, and in sync with most key regional bourses. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 1.34 points to 1,523.79, having fluctuated between 1,519.91 and 1,525.12 throughout the day. The index opened 0.55 of-a-point easier at 1,524.58 compared with 1,525.13 at Wednesday’s close. On the broader market, decliners surpassed gainers 560 to 387, while 407 counters were unchanged, 969 untraded and 21 others suspended. Turnover fell to 2.81 billion shares worth RM2.12 billion from Wednesday’s 3.15 billion shares worth RM2.46 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI remained in consolidation mode due to the absence of fresh catalysts. “Key regional markets are also in negative territory due to overnight losses on Wall Street. “Investors are also cautio...

Market Daily Report: FBM KLCI ends 2.24 points up on last-minute buying

  KUALA LUMPUR (Nov 17): The FTSE Bursa Malaysia KLCI (FBM KLCI) closed 2.24 points up at an intra-day high of 1,525.13 on Wednesday after erasing losses on last-minute buying in heavyweights, mainly Top Glove Corp Bhd, Kuala Lumpur Kepong Bhd (KLK) and Petronas Dagangan Bhd. The index, which opened 0.47 of-a-point easier at 1,522.42, moved between 1,519.07 and 1,523.13 throughout the trading session. On the broader market, losers thumped gainers 715 to 260, while 417 counters were unchanged, 939 untraded and 48 others suspended. Turnover stood at 3.15 billion shares worth RM2.46 billion from Tuesday’s 3.15 billion shares worth RM2.26 billion. Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the FBM KLCI remained lacklustre on Wednesday in line with the regional bourses. “From a technical standpoint, the FBM KLCI is already in the oversold position with the current support and resistant level at 1,483.75 and 1,533.82 points respectively. “Conc...

Market Daily Report: Bursa Malaysia ends marginally higherxx

  KUALA LUMPUR (Nov 16): Bursa Malaysia ended the day marginally higher on bargain hunting in selected heavyweights led by Nestle (Malaysia) Bhd, PPB Group Bhd and Telekom Malaysia Bhd (TM). At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.55 of-a-point to 1,522.89 after moving between 1,518.93 and 1,528.1 in the course of the day Nestle rose 20 sen to RM133.30, PPB advanced 18 sen to RM17.38 and TM bagged 10 sen to RM5.70, and together they contributed 1.21 points to the barometer index.  The index opened 0.87 of-a-point easier at 1,521.47 compared with Monday’s close of 1,522.34. The broader market remained negative at the close with decliners outpacing gainers 542 to 392, while 451 counters were unchanged, 931 untraded and 45 others suspended. Turnover fell to 3.15 billion shares worth RM2.26 billion from Monday’s 3.48 billion shares worth RM2.33 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLC...

Market Daily Report: Bursa Malaysia closes lower on profit-taking in banking, gaming heavyweights

  KUALA LUMPUR (Nov 15): Bursa Malaysia closed lower on Monday due to profit-taking activities, mainly in banking and gaming heavyweights. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) contracted 8.88 points, or 0.58%, to 1,522.34 after moving between 1,520.27 and 1,534.66 throughout the trading session. The index opened 0.16 of-a-point higher at 1,531.38 from Friday’s close of 1,531.22. Decliners led gainers at 656 to 361, while 415 counters were unchanged, 882 untraded and 21 others suspended. Turnover rose to 3.48 billion shares worth RM2.33 billion from last Friday’s 3.11 billion units valued at RM2.62 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the market sentiment remained cautious as FBM KLCI trended in tight consolidation mode, however, it managed to close above the 1,520 support level. “Approaching the year-end, we may see some window-dressing activities. “Furthermore, we believe some bargain-hunting activities will em...

Market Daily Report: Bursa snaps three-day losing streak, KLCI up 0.81%

KUALA LUMPUR (Nov 12): Bursa Malaysia ended higher on Friday (Nov 12) on persistent buying support for financial services as well as healthcare counters amid mixed sentiments on regional markets, dealers said. At 5pm, the benchmark FBM KLCI settled 12.37 points higher at 1,531.22 from Thursday's close at 1,518.85.  Malayan Banking Bhd (Maybank) gained 11 sen to RM8.11 and Top Glove Corp Bhd increased 15 sen to RM2.45, lifting the key index higher by a combined 4.49 points. The KLCI opened 3.84 points higher at 1,522.69 and fluctuated between 1,520.67 and 1,532.64 throughout the day. The broader market was positive as advancers outpaced decliners 521 to 414, while 459 counters were unchanged, 921 untraded and 19 others suspended. Turnover rose to 3.11 billion units valued at RM2.62 billion from Thursday’s 3.02 billion units valued at RM2.24 billion. Rakuten Trade Sdn Bhd vice-president of equity ...

Market Daily Report: Bursa ends lower for third consecutive day

    KUALA LUMPUR (Nov 11): Bursa Malaysia ended lower for the third consecutive day on Thursday (Nov 11), dragged by continued profit taking on selected industrial products and services as well as plantation counters amid weaker sentiments on regional markets, dealers said. At 5pm, the benchmark FBM KLCI closed 1.89 points lower at 1,518.85 from Wednesday's close at 1,520.74.  Press Metal Aluminium Holdings Bhd and Sime Darby Plantation Bhd shed eight sen each to RM5.29 and RM3.92 respectively, pulling the key index lower by a combined 2.12 points. The KLCI opened 0.26 of a point lower at 1,520.48 and fluctuated between 1,517.14 and 1,522.72 throughout the day. The broader market was slightly negative as decliners outpaced advancers 498 to 447, while 418 counters were unchanged, 929 untraded and 18 others suspended. Turnover declined to 3.02 billion units valued at RM2.24 billion from ...

Market Daily Report: Selling of selected heavyweights drags Bursa lower at close

  KUALA LUMPUR (Nov 10): Bursa Malaysia ended lower on Wednesday (Nov 10), driven by continued profit taking on telecommunications and media as well as consumer products and services counters amid weaker sentiments on regional markets, dealers said. At 5pm, the benchmark FBM KLCI closed 3.29 points lower at 1,520.74 from Tuesday's close at 1,524.03.  Axiata Group Bhd shed four sen to RM3.84, while MR DIY Group (M) Bhd fell five sen to RM3.65, dragging the key index lower by a combined 1.20 points. The KLCI opened two points higher at 1,526.03 and fluctuated between 1,516.75 and 1,526.15 throughout the day. The broader market was negative as decliners outpaced gainers 502 to 428, while 451 counters were unchanged, 903 untraded and 17 others suspended. Turnover was slightly higher at 3.43 billion units valued at RM2.32 billion from Tuesday’s 3.11 billion units valued at RM2.39 billion. Rakuten Trade Sdn B...

Market Daily Report: Bursa Malaysia closes lower on continued profit-taking

  KUALA LUMPUR (Nov 9): Bursa Malaysia ended lower on Tuesday, driven by continued profit-taking in the industrial products and services as well as plantation counters, amid mixed sentiments on the regional markets, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 11.38 points to 1,524.03 from Monday's close of 1,535.41.  Press Metal Aluminium Holdings Bhd shed nine sen to RM5.31 while IOI Corp Bhd fell 10 sen to RM3.81, dragging the key index by a combined 2.3 points. The FBM KLCI opened 0.14 of-a-point higher at 1,535.55 and fluctuated between 1,520.08 and 1,536.16 throughout the trading session. However, the broader market was negative as decliners outpaced gainers 653 to 311, while 441 counters were unchanged, 872 untraded and 18 others suspended. Turnover was slightly higher at 3.11 billion units valued at RM2.39 billion from Monday’s 3.10 billion units valued at RM2.13 billion.  Rakuten Trade Sdn Bhd vice-president of ...

Market Daily Report: Bursa Malaysia closes mixed

  KUALA LUMPUR (Nov 8): Bursa Malaysia ended mixed on Monday with the barometer index closing higher as consistent buying support from the consumer products and services as well as plantation counters halted the downtrend, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.68 points to 1,535.41 from Friday's close of 1,531.73.  Petronas Dagangan Bhd gained 88 sen to RM20.68 while Kuala Lumpur Kepong Bhd added 38 sen to RM21.08, lifting the key index by a combined 2.28 points. The FBM KLCI opened 2.48 points higher at 1,534.21 and fluctuated between 1,531.42 and 1,538.12 throughout the trading session. However, the broader market was negative as decliners outpaced gainers 571 to 415, while 427 counters were unchanged, 876 untraded and 27 others suspended. Turnover slipped to 3.1 billion units valued at RM2.13 billion from Friday’s 3.15 billion units valued at RM2.32 billion.  Rakuten Trade Sdn Bhd vice-president of equity research ...

Market Daily Report: Bargain hunting lifts KLCI marginally higher at close

  KUALA LUMPUR (Nov 5): Bursa Malaysia ended the week on a mixed note on Friday with the barometer index lifted marginally higher by late bargain hunting in selected heavyweights, led by telecommunications and media sector, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.4 of-a-point to 1,531.73 from Wednesday's close of 1,531.33.  Maxis Bhd gained 12 sen to RM4.70 and Digi.Com Bhd added 10 sen to RM4.30, both of which lifted the key index by a combined 3.06 points. The FBM KLCI opened 4.44 points higher at 1,535.77 and fluctuated between 1,525.45 and 1,540.61 throughout the trading session. The market was closed on Thursday for Deepavali. However, the broader market was negative as decliners outpaced gainers 582 to 441, while 446 counters were unchanged, 822 untraded, and 31 others suspended. Turnover slipped to 3.15 billion units valued at RM2.32 billion from Wednesday’s 3.42 billion units valued at RM2.35 billion. A dealer s...

Market Daily Report: Bursa Malaysia ends lower on selling of heavyweights

  KUALA LUMPUR (Nov 3): Bursa Malaysia ended lower on Wednesday as investors offloaded selected heavyweight stocks, led by Top Glove Corporation Bhd and Maxis Bhd, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 6.3 points to 1,531.33 from Tuesday's close of 1,537.63.  Top Glove and Maxis shed nine sen each to RM2.49 and RM4.58 respectively, altogether dragging the barometer index down by 2.58 points. The index, which opened 5.52 points higher at 1,543.15, fluctuated between 1,530.35 and 1,543.87 during the day. On the broader market, decliners outpaced gainers 647 to 322, while 443 counters were unchanged, 863 untraded, and 19 others suspended. Turnover slipped to 3.42 billion units valued at RM2.35 billion from Tuesday’s 3.65 billion units valued at RM2.71 billion.  A dealer said Bursa Malaysia had opened higher after taking its cue from the stronger Wall Street performance overnight, but turned lower across the board at mid-mo...

Market Daily Report: Bursa Malaysia ends firmer on bargain hunting

  KUALA LUMPUR (Nov 2): Bursa Malaysia ended on a positive note on Tuesday on bargain hunting as investors picked up beaten-down counters after Monday's sharp fall, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.71 points to 1,537.63 from Monday's close of 1,530.92.  The index, which opened 1.29 points firmer at 1,532.21, fluctuated between 1,532.21 and 1,544 during the day. On the broader market, gainers outpaced losers 629 to 404, while 434 counters were unchanged, 808 untraded, and 15 others suspended. Turnover rose to 3.65 billion units valued at RM2.71 billion from Monday’s 3.47 billion units valued at RM3.23 billion.  A dealer said Bursa Malaysia remained in the positive territory since the opening bell on Tuesday morning, taking cues from a stronger Wall Street performance overnight, which saw the US market hovering around record highs on optimism over corporate earnings and gains for energy shares and Tesla. “The local b...

Market Daily Report: Bursa ends sharply lower, KLCI down 2%

  KUALA LUMPUR (Nov 1): Bursa Malaysia ended sharply lower with selling pressure seen across the board as investors reacted negatively to the one-off prosperity tax tabled during Budget 2022, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 31.39 points, or 2.01%, to 1,530.92 from Friday's close of 1,562.31. The index, which opened 16.32 points lower at 1,545.99, fluctuated between 1,526.04 and 1,545.99 during the day's session. On the broader market, losers thumped gainers 996 to 178, while 327 counters were unchanged, 773 untraded and 14 others suspended. Turnover rose to 3.47 billion units valued at RM3.23 billion from Friday’s 3.03 billion units valued at RM2.35 billion.  A dealer said Bursa Malaysia stayed in negative territory since the market opened on Monday despite a stronger close on Wall Street last Friday, as the proposed one-off prosperity tax was received unfavourably and weighed down market sentiment. Rakuten Trade Sdn ...