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 (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 gained three sen to RM4, Maxis Bhd was flat at RM4.59, Malayan Banking Bhd eased one sen to RM8.11, Public Bank Bhd shed five sen to RM4.02 and IHH Healthcare Bhd slipped two sen to RM6.67.
Of the actives, Green Ocean Corp Bhd edged up half-a-sen to four sen, VS Industry Bhd surged 12 sen to RM1.54, VSolar Group Bhd was flat at 1.5 sen, Fintec Global Bhd and G3 Global Bhd edged down half-a-sen each to 1.5 sen and 13 sen respectively, while ATA IMS Bhd lost 35 sen to 82 sen.
On the index board, the FBM 70 went up 4.41 points to 14,635.47, the FBMT 100 Index slipped 23.91 points to 10,825.37, the FBM Emas Index dipped 33.58 points to 11,159.57, the FBM Emas Shariah Index weakened 28.36 points to 12,107.81, while the FBM ACE contracted 99.01 points to 6,652.3.
Sector-wise, the Industrial Products and Services Index added 0.19 of-a-point to 199.39, the Financial Services Index was 40.2 points lower at 15,229.52, and the Plantation Index reduced 22.13 points to 6,579.18.
The Main Market volume went up to 2.35 billion shares worth RM2.13 billion against Wednesday's 1.96 billion shares worth RM1.79 billion.
Warrants turnover fell to 258.24 million units worth RM36.88 million from 343.07 million units worth RM76.05 million on Wednesday.
The volume on the ACE Market expanded to 1.2 billion shares valued at RM247.51 million from 716.62 million shares valued at RM226.51 million on Wednesday.
Consumer products and services counters accounted for 445.02 million shares traded on the Main Market, industrial products and services (996.65 million), construction (92.89 million), technology (279.02 million), SPAC (nil), financial services (42.05 million), property (137.63 million), plantation (23.95 million), REITs (11.99 million), closed/fund (149,900), energy (135.39 million), healthcare (50.28 million), telecommunications and media (49.56 million), transportation and logistics (65.18 million), and utilities (20.89 million).
Source: The Edge
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