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 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 research Thong Pak Leng said the KLCI rebounded on bargain-hunting activities and foreign buying support.
“The benchmark index gained 0.81% to close at 1,531.22, lifted mainly by gloves and banking counters. Key regional markets also ended higher following overnight gains for tech stocks stateside as the Nasdaq rebounded.
“Chinese/Hong Kong stocks rose on optimism Beijing will ease regulatory curbs to shore up growth,” he told Bernama on Friday.
On the domestic front, he said the local bourse trended higher and managed to close above the 1,520 support level.
Among other heavyweights, Public Bank Bhd was flat at RM4.02, Petronas Chemicals Group Bhd (PetChem) added one sen to RM8.31 and CIMB Group Holdings Bhd went up three sen to RM5.04, while IHH Healthcare Bhd slipped three sen to RM6.43 and Tenaga Nasional Bhd (TNB) declined one sen to RM9.62.
Of the actives, Dagang NeXchange Bhd (DNeX) and LKL International Bhd went up one sen each to 84 sen and 12 sen respectively, AirAsia X Bhd rose 1.5 sen to 7.5 sen, while NWP Holdings Bhd improved two sen to 35.5 sen.
On the index board, the FBM Emas Index increased 87.66 points to 11,328.85, the FBMT 100 Index climbed 90.07 points to 10,967.31, the FBM Emas Shariah Index jumped 106.48 points to 12,340.02 and the FBM 70 surged 128.77 points to 15,002.54, while the FBM ACE advanced 19.71 points to 6,977.99.
Sector-wise, the Industrial Products and Services Index inched up 0.78 of a point to 201.67 and the Plantation Index bagged 56.85 points to 6,672.94, while the Financial Services Index rose 87.46 points to 15,205.71.
Main Market volume increased to 2.04 billion shares worth RM2.22 billion from 1.95 billion shares worth RM1.88 billion on Thursday.
Warrant turnover decreased to 251.82 million units worth RM55.26 million versus 309.20 million units worth RM57.53 million on Thursday.
ACE Market volume expanded to 810.81 million shares valued at RM338.01 million from Thursday’s 760.56 million shares valued at RM301.63 million.
Consumer products and services counters accounted for 481.82 million shares traded on the Main Market, followed by industrial products and services (564.35 million), construction (61.22 million), technology (395.52 million), special purpose acquisition companies (nil), financial services (65.24 million), property (165.36 million), plantation (13.16 million), real estate investment trusts (2.61 million), closed/funds (nil), energy (98.40 million), healthcare (115.73 million), telecommunications and media (23.42 million), transportation and logistics (47.06 million) and utilities (7.76 million).
Source: The Edge
Comments
Post a Comment