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 (Dec 30): Bursa Malaysia snapped a six-day winning streak to close lower on Thursday (Dec 30), taking cues from the mixed global market performance amid moderate profit-taking activities.
As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.43 points to end at 1,543.61 compared with 1,545.04 on Wednesday.
The index opened 0.31 of-a-point weaker at 1,544.73 on Thursday morning, went through choppy trading throughout the day, and moved between 1,539.57 and 1,547.75.
On the broader market, gainers led losers 448 to 408 while 436 counters were unchanged, 1,019 untraded, and 53 others suspended.Turnover fell to 2.24 billion units valued at RM1.51 billion from Wednesday’s 2.41 billion units valued at RM1.83 billion.
Key regional indices were mostly in the red following a mixed performance on Wall Street overnight.
Japan’s Nikkei 225 lost 0.4% to 28,791.71, South Korea’s KOSPI fell 0.52% to 2,977.65 and Singapore’s Strait Times Index was down 0.36% to 3,126.64, but Hong Kong’s Hang Seng rose 0.11% to 23,112.01.
Among the heavyweights, Petronas Chemicals Group Bhd erased 10 sen to RM8.79, Public Bank Bhd lost four sen to RM4.15, Hong Leong Bank Bhd fell 24 sen to RM18.44, and Malayan Banking Bhd was three sen lower at RM8.30.
Of the actives, SMTrack Bhd added two sen to 17.5 sen, AT Systematization Bhd lost half-a-sen to three sen, XOX Bhd and DGB Asia Bhd were flat at three sen respectively, while NWP Holdings Bhd advanced one sen to 25 sen.
On the index board, the FBM Emas Shariah Index increased 25.88 points to 12,080.11, the FBM 70 rose 11.86 points to 14,236.9 while the FBM ACE put on 30.69 points to 6,393.66.
However, the FBM Emas Index was 5.16 points easier at 11,190.05 and the FBMT 100 Index fell 5.65 points to 10,890.29.
Sector-wise, the Financial Services Index slipped 108.52 points to 15,512.53, the Industrial Products and Services Index shed 0.48 of-a-point to 201.6, but the Plantation Index perked up 43.7 points to 6,588.48.
The Main Market volume narrowed to 1.23 billion shares valued at RM1.32 billion versus Wednesday's 1.39 billion shares valued at RM1.6 billion.
Warrants turnover declined to 140.92 million units worth RM18.53 million compared with 168.21 million units worth RM22.1 million on Wednesday.
However, ACE Market volume improved to 873.75 million shares valued at RM165.78 million from 840.37 million shares valued at RM211.51 million previously.
Consumer products and services counters accounted for 222.81 million shares traded on the Main Market, industrial products and services (440.25 million), construction (39.37 million), technology (206.97 million), SPAC (nil), financial services (54.92 million), property (67.27 million), plantation (7.85 million), REITs (6.7 million), closed/fund (55,000), energy (63.87 million), healthcare (59.36 million), telecommunications and media (24.21 million), transportation and logistics (25.77 million), and utilities (9.49 million).
Source: The Edge
Comments
Post a Comment