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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 ends 2022 on high note despite KLCI failing to stay above 1,500 level

KUALA LUMPUR (Dec 30): Bursa Malaysia took a slight breather in the late session as profit-taking set in on the final trading day of this year, before regaining momentum to swing to an upbeat mode despite the barometer index failing to stay above the key 1,500 level. The morning session performance was stellar until the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) began to fluctuate between gains and losses in the afternoon session to end the day at 1,495.49, up 3.86 points, thanks to the rally in Petronas Dagangan Bhd and Tenaga Nasional Bhd stocks. The market bellwether opened 0.3 points higher at 1,491.93 and hit an intra-day high of 1,503.33 and an intra-day low of 1,479.13 on Friday (Dec 30). Market breadth turned mixed with 445 gainers and 443 losers, while 413 counters were unchanged, 954 untraded, and 49 others suspended. Turnover was unchanged at 2.43 billion units but value was higher at RM2.51 billion compared to Thursday’s RM1.52 billion. Year-to-date, the ...

Market Daily Report: FBM KLCI ends at intraday high, boosted by banking, utilities stocks

KUALA LUMPUR (Dec 29): Bursa Malaysia ended in an upbeat mode on Thursday (Dec 29) on window dressing in banking, utilities, and plantation counters. Lower liners under the ACE Market have also put on a steady recovery from earlier losses. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 11.52 points to end at an intraday high of 1,491.63 from Wednesday's closing of 1,480.11. The market bellwether opened 3.84 points lower at 1,476.27 and hit its lowest of 1,472.54 during the mid-morning session. Market breadth turned positive with gainers outpacing losers 482 to 398 gainers, while 404 counters were unchanged, 984 untraded, and 63 others suspended. Turnover, however, declined to 2.43 billion units worth RM1.52 billion versus 2.65 billion units worth RM1.82 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI continued its uptrend despite the regional market weakness, thanks to buying support fr...

Market Daily Report: Bursa snaps three-day losing streak on bargain-hunting

KUALA LUMPUR (Dec 22): Bursa Malaysia snapped a three-day losing streak to end higher on Thursday (Dec 22), as bargain-hunting emerged, in line with regional markets, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.4% or 5.8 points to 1,468.35 from Wednesday's closing of 1,462.55. The market bellwether, which opened 1.24 points better at 1,463.79, moved between 1,462.41 and 1,468.35 throughout the day. On the broader market, gainers thumped losers 447 to 386, while 424 counters were unchanged, 1,007 untraded, and 22 others suspended. Turnover was reduced to 2.50 billion units worth RM1.33 billion versus 2.91 billion units worth RM1.71 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices were broadly higher on Thursday following a positive cue from Wall Street overnight. “On the domestic trend, we expect the market undertone to remain steady due to improving investor senti...

Market Daily Report: Bursa ends lower for third consecutive day

KUALA LUMPUR (Dec 21): Bursa Malaysia finished lower for the third consecutive day on Wednesday (Dec 21) due to persistent selling in heavyweights as investors remained wary following the surge in sovereign bond yields overnight, a dealer said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.33% or 4.77 points to 1,462.55 from Tuesday's closing of 1,467.32. The market bellwether, which opened 0.31 of-a-point easier at 1,467.01, moved between 1,458.82 and 1,469.42 throughout the day. On the broader market, losers thumped gainers 502 to 357, while 413 counters were unchanged, 992 untraded, and 22 others suspended. Turnover improved to 2.91 billion units worth RM1.71 billion versus 2.77 billion units worth RM1.78 billion on Tuesday. SPI Asset Management managing director Stephen Innes said investors were also concerned about the higher US interest rates, which could blunt any hope for a global soft landing. "In Asia, traders are still playing slowe...

Market Daily Report: Bursa ends lower, mirroring regional markets

KUALA LUMPUR (Dec 20): Bursa Malaysia ended lower on Tuesday (Dec 20) in tandem with the decline in regional markets as hawkish central banks narrative continued to weigh on global risk sentiment, said an analyst. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 0.66% or 9.77 points to 1,467.32 from Monday's closing of 1,477.09. The market bellwether, which opened 3.36 points easier at 1,473.73, moved between 1,464.86 and 1,476.23 during the day. On the broader market, losers thumped gainers 544 to 328, while 401 counters were unchanged, 965 untraded and 12 others suspended. Turnover fell to 2.77 billion units worth RM1.78 billion versus 3.02 billion units worth RM1.79 billion on Monday. SPI Asset Management managing director Stephen Innes said the Bank of Japan (BOJ) is adding to the rate hike angst after the US Federal Reserve (Fed) and European Central Bank (ECB) surprised the market with their hawkish side last week. Asian shares reportedly fell...

Market Daily Report: Bursa ends marginally lower

KUALA LUMPUR (Dec 19): Bursa Malaysia ended marginally lower on Monday (Dec 19) as buying emerged during the final minutes of trading amid weakness in most key regional markets as concerns over rising interest rates and a potential recession in 2023 weighed on sentiment, said an analyst. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.1% or 1.45 points to 1,477.09 from last Friday's closing of 1,478.54. The barometer index, which opened 1.82 points lower at 1,476.72, moved between 1,471.57 and 1,477.41 during the day. On the broader market, decliners thumped advancers 495 versus 393, while 416 counters were unchanged, 941 untraded and 19 others suspended. Turnover stood at 3.02 billion units worth RM1.79 billion versus 3.33 billion units worth RM2.24 billion last Friday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices are mostly in the red as investors are cautiously awaiting several economic data...

Market Daily Report: Late buying pushes KLCI to close at day's high, up 0.78%

KUALA LUMPUR (Dec 16): Bursa Malaysia ended the week in positive territory, after late buying of selected plantation heavyweights lifted the benchmark index by 0.78%, despite volatility in regional markets. At 5pm on Friday (Dec 16), the FBM KLCI had risen by 11.41 points to 1,478.54, from Thursday's closing at 1,467.13. The barometer index opened 5.37 points lower at 1,461.76, and went down to 1,459.31 in the morning session, before climbing up to its intraday high of 1,478.54 in the final hours of trading. However, on the broader market, decliners edged advancers 488 versus 409, while 414 counters were unchanged, 963 untraded, and 48 others suspended. Turnover improved to 3.33 billion units worth RM2.24 billion versus 2.54 billion units worth RM1.91 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices ended mostly in downbeat mode, following broadly negative cues from global markets overnight.  A...

Market Daily Report: Bursa succumbs to selling pressure, KLCI down 1.08%

KUALA LUMPUR (Dec 15): Bursa Malaysia ended in the negative territory in tandem with heavy selling across the region as investors tread cautiously amid a hawkish tone on the global interest rate hike, an analyst said.   At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 1.08% or 16.04 points to 1,467.13 from Wednesday's closing of 1,483.17. The barometer index, which opened 1.39 points lower at 1,481.78, moved in a declining mode between 1,466.25 and 1,482.11 during the day. On the broader market, decliners thumped advancers 584 versus 307, while 402 counters were unchanged, 980 untraded, and 41 others suspended. Turnover improved slightly to 2.54 billion units worth RM1.91 billion against 2.51 billion units worth RM1.90 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that regional key indices closed mostly lower amid lingering concerns about inflation and the prospect of aggressive rate hi...

Market Daily Report: Bursa ends firmer on bargain-hunting

KUALA LUMPUR (Dec 14): Bursa Malaysia rebounded from Tuesday's (Dec 13) loss to end in positive territory as bargain-hunting emerged, in line with the regional markets’ uptrend performance. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.89% or 13.05 points to 1,483.17 from Tuesday's closing of 1,470.12 The barometer index opened 1.77 points higher at 1,471.89 and moved between 1,471.64 and 1,483.17 throughout the day. On the broader market, gainers surpassed decliners 532 versus 384, while 418 counters were unchanged, 940 untraded and 13 others suspended. Turnover slightly narrowed to 2.51 billion units worth RM1.90 billion versus 2.69 billion units worth RM1.84 billion on Tuesday. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the local bourse recovered all its previous losses this week, driven by the optimism over the potential slower rate hike from the US Federal Reserve (Fed). “For now, investors will be monitoring the US Fed ...

Market Daily Report: Bursa ends lower on persistent selling in selected heavyweights

KUALA LUMPUR (Dec 13): Bursa Malaysia ended in negative territory due to persistent selling in selected heavyweights led by plantation and telecommunication stocks, despite the upbeat mode on regional markets. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.26 points to 1,470.12 from Monday's closing of 1,474.38. The barometer index, which opened 2.15 points higher at 1,476.53, moved between 1,469.47 and 1,477.29 in a choppy trading session throughout the day. On the broader market, losers led gainers 482 versus 411, while 389 counters were unchanged, 980 untraded, and 10 others suspended. Turnover expanded to 2.69 billion units worth RM1.84 billion versus 2.52 billion units worth RM1.52 billion on Monday. SPI Asset Management managing partner Stephen Innes said Asian stocks relatively experienced a quiet trading on Tuesday as investors awaited the crucial US consumer price index data later and the US Federal Open Market Committee's (FOMC) decis...

Market Daily Report: Bursa ends marginally lower on cautious sentiment

KUALA LUMPUR (Dec 12): Bursa Malaysia ended marginally lower on Monday (Dec 12) in tandem with the negative cues from the regional markets' performance amid heightened cautious sentiment, an analyst said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.81 points to 1,474.38 from Friday's closing of 1,477.19.   The barometer index, which opened 1.58 points lower at 1,475.61 — its intraday high, dropped to as low as 1,468.85 in the morning session and maintained its choppy and narrow-range trading in the afternoon session. On the broader market, decliners thumped advancers 532 versus 368, while 377 counters were unchanged, 986 untraded, and 12 others suspended. Turnover declined to 2.52 billion units worth RM1.52 billion from 3.24 billion units worth RM1.94 billion last Friday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional markets ended mostly lower as investors were anxious ahead of the US Federal...

Market Daily Report: Bursa ends higher in sync with regional peers

KUALA LUMPUR (Dec 9): Bursa Malaysia ended the week higher in tandem with regional markets amid positive Wall Street performance overnight.  At 5pm on Friday (Dec 9), the benchmark FBM KLCI stood at 1,477.19, up 11.26 points or 0.77%, from Thursday's closing at 1,465.93. The market bellwether opened 1.97 points higher at 1,467.90, and moved in a tight range of 1,466.76 to 1,477.42 throughout the day. Market breadth was positive, with gainers trouncing losers 578 to 390, while 370 counters were unchanged, 917 untraded, and 12 others suspended. Turnover rose to 3.24 billion units worth RM1.94 billion, from Thursday's 3.19 billion units worth RM1.83 billion.   Hong Leong Investment Bank Research said the KLCI may consolidate ahead of the US Federal Open Market Committee meeting on Dec 13 and 14, and a vote of confidence for Prime Minister Datuk Seri Anwar Ibrahim when Parliament convene...

Market Daily Report: Bursa ends marginally lower in lacklustre trading

KUALA LUMPUR (Dec 8): Bursa Malaysia ended in negative territory on Thursday (Dec 8) on lack of fresh market-moving catalysts, in line with the downbeat performance in most regional peers. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,465.93, down 0.95 of-a-point or 0.06%, from Wednesday's closing of 1,466.88. The market bellwether opened 0.49 of-a-point higher at 1,467.37 and moved in a tight range at between 1,461.78 and 1,469.12 throughout the day. Market breadth was also negative with losers beating gainers 567 to 369, while 396 counters were unchanged, 923 untraded, and 11 others suspended. Turnover fell to 3.19 billion units worth RM1.83 billion from Wednesday's 3.35 billion units worth RM2.25 billion. SPI Asset Management managing partner Stephen Innes said trading in the local market could be bumpy between now and the US Federal Open Market Committee (FOMC) meeting next week. "A lot of goodness has been priced into the local ...

Market Daily Report: Bursa gives up earlier gains to end lower

KUALA LUMPUR (Dec 7): Bursa Malaysia gave up earlier gains to end in negative territory on Wednesday (Dec 7), in line with the weak sentiment in regional markets, following negative cues from Wall Street overnight.  At 5pm, the benchmark FBM KLCI index stood at 1,466.88, down 4.67 points or 0.32%, from Tuesday's closing at 1,471.55.  The market bellwether opened 0.09 of a point easier at 1,471.46, and moved in a narrow range of between 1,466.46 and 1,477.86 throughout the day. Market breadth was also negative, with losers beating gainers 501 to 401, while 369 counters were unchanged, 894 untraded, and 10 others suspended. Turnover fell to 3.35 billion units worth RM2.25 billion, from Tuesday's 4.91 billion units worth RM2.55 billion.  Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said despite the lacklustre trading environment over the last few days, the...

Market Daily Report: Bursa ends mixed amid weakness in most regional markets

KUALA LUMPUR (Dec 6): Bursa Malaysia ended mixed on Tuesday (Dec 6) on the back of a lacklustre market, in line with the weakness in most key regional markets. The weak regional sentiment followed cues from the downbeat Wall Street performance overnight, amid renewed fears of a bigger interest rate hike by the US Federal Reserve in its monetary policy meeting next week. At 5pm, the benchmark FBM KLCI was almost flat at 1,471.55, down by 0.01 of a point from Monday's closing at 1,471.56, after opening 2.57 points easier at 1,468.99. The index moved in a narrow range at between 1,467.13 and 1,473.52 throughout the day. Market breadth was slightly positive, with gainers leading losers 504 to 479, while 371 counters were unchanged, 887 untraded, and nine others suspended. Turnover surged to 4.91 billion units worth RM2.55 billion, from 3.99 billion units worth RM2.07 billion on Monday.   Rakuten ...

Market Daily Report: Bursa ends lower

KUALA LUMPUR (Dec 5): Bursa Malaysia ended lower on Monday (Dec 5), with the key moving in a narrow range, while buying activities were seen mainly in energy, construction, and transportation stocks. At 5pm, the benchmark FBM KLCI had dipped 10.24 points or 0.69% to 1,471.56, from last Friday's closing at 1,481.80. The market barometer opened 0.28 of a point higher at 1,482.08, and moved between 1,470.33 and 1,482.08 throughout the day. However, market breadth was positive with gainers outpacing losers 524 to 486, while 392 counters were unchanged, 839 untraded, and nine others suspended. Turnover increased to 3.99 billion units worth RM2.07 billion, from last Friday’s 3.35 billion units worth RM2.28 billion.  Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI closed in negative territory on Monday, as investors shifted their buying interests to smaller-cap stocks. “We...

Market Daily Report: Bursa ends lower on lack of buying catalysts

KUALA LUMPUR (Dec 2): Bursa Malaysia retreated after two days of gains to end easier on Friday (Dec 2), with the key index falling by 0.65%, on lack of buying interest in large-cap stocks as risk appetite shifted to smaller cap companies, particularly real estate investment trust and energy stocks. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 9.71 points to 1,481.8 from Thursday's closing of 1,491.51. The market bellwether opened 2.15 points easier at 1,489.36 and moved within a narrow range at between 1,479.7 and 1,489.36 throughout the day. However, market breadth was positive with gainers beating losers 541 to 406, while 416 counters were unchanged, 870 untraded, and 14 others suspended. Turnover decreased to 3.35 billion units worth RM2.28 billion versus 3.94 billion units worth RM3.07 billion on Thursday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional markets were also in the negative territory as...

Market Daily Report: Bursa closes on positive note

KUALA LUMPUR (Dec 1): Bursa Malaysia ended higher for the second consecutive day on Thursday (Dec 1), with the key index rising by 0.18% as continuous buying interest was seen in the heavyweight plantation counters. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.71 points to 1,491.51 from Wednesday's closing of 1,488.8. The market bellwether opened two points better at 1,490.8 and moved between 1,487.34 and 1,497.24 throughout the day. Market breadth was positive with gainers outnumbering losers 711 to 344, while 379 counters were unchanged, 799 untraded and 14 others suspended. Turnover decreased to 3.94 billion units worth RM3.07 billion versus 4.71 billion units worth RM4.41 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI ended marginally higher in tandem with the improving sentiment in global equities. He said the key regional indices were also in the green following a positiv...

Market Daily Report: Bursa recoups early losses to end higher on bargain-hunting

KUALA LUMPUR (Nov 30): Bursa Malaysia recouped early losses to end in the positive territory on Wednesday (Nov 30) as bargain-hunting emerged in selected heavyweights in utilities, consumer products and services, as well as industrial products and services counters. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 11.84 points to 1,488.8 from Tuesday's closing of 1,476.96. The market bellwether opened 0.74 of-a-point lower at 1,476.22, and moved between 1,464.81 and 1,489.78 throughout the day. Market breadth was positive with gainers leading losers 524 to 468, while 381 counters were unchanged, 917 untraded, and 67 others suspended. Turnover expanded to 4.71 billion units worth RM4.41 billion versus 3.4 billion units worth RM2.47 billion on Tuesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the regional key indices trended mostly higher with strong gains in Hong Kong after Beijing announced multiple measures to ease the strict lo...

Market Daily Report: Bursa ends in negative territory as profit taking continues

KUALA LUMPUR (Nov 29): Bursa Malaysia ended the day in negative territory as profit-taking activities continue following the strong rally last Thursday (Nov 24). Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the benchmark index closed off its day’s low as buying activities emerged in the afternoon trading session. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.58 points to 1,476.96 from last Friday's closing of 1,486.54. The market bellwether opened 2.77 points easier at 1,483.77 and moved between 1,467.26 and 1,486.68 throughout the session. However, market breadth was positive with gainers leading losers 564 to 409, while 358 counters were unchanged, 927 untraded, and 67 others suspended. Turnover dropped to 3.4 billion units worth RM2.47 billion versus 4.41 billion units worth RM2.75 billion last Friday. Bursa Malaysia Bhd and its subsidiaries were closed on Monday (Nov 28) in conjunction with the special public holiday ann...