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 (Feb 8): Bursa Malaysia ended marginally lower on lack of buying interest, with healthcare heavyweights weighing on the index amid volatile trading, an analyst said.
Hartalega Holdings Bhd led the decliners after it slid 26 sen to RM5.57, while Top Glove Corp Bhd was six sen lower at RM2.29.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.56 of-a-point to 1,530.09 from 1,530.65 at Monday's close.
The index, which opened 2.68 points higher at 1,533.33, moved between 1,529.1 and 1,534.73 throughout the session.Overall market breadth was negative with decliners outnumbering gainers 468 to 451, while 415 counters were unchanged, 878 untraded, and 10 others suspended.
Total turnover declined to 2.85 billion units worth RM2.17 billion versus 3.08 billion units worth RM2.3 billion at Monday's close.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional key indices trended mixed due to cautious trading following negative cues from Wall Street overnight.
"Investors are cautiously awaiting the release of the US inflation data and the minutes of the US Federal Reserve's latest monetary policy meeting for directional clues," he told Bernama.
Regionally, Singapore’s Straits Times Index rose 1.15% to 3,405.11, Japan's Nikkei 225 increased 0.13% to 27,284.52, while Hong Kong's Hang Seng Index eased 1.02% to 24,329.49.
Among other heavyweights, Malayan Banking Bhd rose two sen to RM8.35, IHH Healthcare Bhd added five sen to RM6.50 while Public Bank Bhd eased one sen to RM4.21 and Petronas Chemicals Group Bhd was flat at RM9.05.
Among the actives, ATA IMS Bhd rose four sen to 50.5 sen, MY EG Services Bhd added eight sen to RM1.05, SMTrack Bhd was flat at 18.5 sen and AirAsia Group Bhd rose 9.5 sen to 66 sen.
On the index board, the FBM 70 advanced 63.39 points to 13,612.8, the FBM Emas Index bagged 10.57 points to 11,029.43, and the FBMT 100 Index rose 8.21 points to 10,706.35.
The FBM ACE slipped 0.67 of-a-point to 6,247.61, and the FBM Emas Shariah Index dipped 7.97 points to 11,746.53.
Sector-wise, the Financial Services Index improved 1.16 points to 15,827.78, the Plantation Index was up 6.81 points to 6,618.58, while the Industrial Products and Services Index was 1.04 points higher at 205.65.
The Main Market volume improved to 2.02 billion shares valued at RM1.95 billion against 1.88 billion shares valued at RM2.04 billion on Monday.
Warrants turnover narrowed to 267.55 million units worth RM32.84 million from 307.65 million units worth RM33.57 million previously.
The ACE Market volume shrank to 560.48 million shares valued at RM189.1 million versus 891.09 million shares valued at RM232.67 million on Monday.
Consumer products and services counters accounted for 449.72 million shares traded on the Main Market, industrial products and services (561.42 million), construction (97.41 million), technology (374.77 million), SPAC (nil), financial services (46.32 million), property (103.85 million), plantation (24.84 million), REITs (8.92 million), closed/fund (5,000), energy (189.32 million), healthcare (73.19 million), telecommunications and media (26.38 million), transportation and logistics (41.91 million), and utilities (22.25 million).
Source: The Edge
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