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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 Malaysia ends higher

  KUALA LUMPUR (March 31): Bursa Malaysia closed 0.26% higher Thursday, boosted by improved market sentiment as buying support emerged primarily in banking and consumer product stocks. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.14 points to 1,587.36 from 1,583.22 at Wednesday’s close. The barometer index opened 1.95 points firmer at 1,585.17 and moved between 1,575.54 and 1,589.06 throughout the day. Market breadth was positive as gainers outpaced losers 530 to 370, while 445 counters were unchanged, 931 untraded, and 73 others suspended. Total turnover decreased to 2.86 billion units worth RM2.36 billion from 3.41 billion units worth RM2.16 billion on Wednesday. Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said this marked the end of the first-quarter performance with the FBM KLCI increasing by 19.83 points from December 2021 or an increase of 1.3% quarter-on-quarter. “It seems that 1,600 points is the psychological level ...

Market Daily Report: Bursa Malaysia ends mixed

  KUALA LUMPUR (March 30): Bursa Malaysia ended mixed on Wednesday (March 30) with the key index almost flat on lack of market catalyst, although the broader market showed a positive tone. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.2 of-a-point to 1,583.22 from 1,583.42 at Tuesday’s close. The index opened 2.13 points higher at 1,585.55 and moved between 1,580.88 and 1,591.4 throughout the trading session. Market breadth was positive as gainers outpaced losers 521 to 430, while 419 counters were unchanged, 922 untraded, and 88 others suspended. Total turnover increased to 3.41 billion units worth RM2.16 billion from 2.63 billion units worth RM1.98 billion on Tuesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional markets ended mostly higher, tracking the upbeat performance on Wall Street overnight, as talks on ending Russia’s war in Ukraine appeared to make progress. Back home, the FBM KLCI moved in a tig...

Market Daily Report: Bursa Malaysia ends lower

  KUALA LUMPUR (March 29): Bursa Malaysia closed lower as profit taking persisted in most heavyweights led by Malayan Banking Bhd (Maybank), Public Bank Bhd and Petronas Chemicals Group Bhd. Maybank lost six sen to RM8.90, Public Bank slid four sen to RM4.63 and Petronas Chemicals shed 20 sen to RM9.58. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.53 points or 0.91% to 1,583.42 from 1,597.95 at Monday’s close. The key index opened 0.02 of-a-point lower at 1,597.93 and fluctuated between 1,579.27 and 1,598.21 throughout the trading session. On the broader market, losers outpaced gainers 430 to 348, while 555 counters were unchanged, 967 untraded, and 35 others suspended. Total turnover increased to 2.63 billion units worth RM1.98 billion from 2.41 billion units worth RM1.89 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said local equities closed broadly lower as investors continued to take profit, particu...

Market Daily Report: Bursa Malaysia ends lower on lack of buying catalyst

  KUALA LUMPUR (March 28): Bursa Malaysia ended broadly lower after a lacklustre trading session as investors seemed reluctant to make significant moves due to the absence of buying catalyst, said Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.35 points to 1,597.95 from 1,603.3 at Friday’s close. The key index opened 2.84 points higher at 1,606.14, to record its intraday high, and hit a low of 1,595.37 about 30 minutes before the session ended. On the broader market, losers surpassed gainers 527 to 339, while 518 counters were unchanged, 924 untraded, and 52 others suspended. Total turnover decreased to 2.41 billion units worth RM1.89 billion from 2.78 billion units valued at RM2.22 billion last Friday. Thong said regionally, the key indices were mixed due to different reactions over the lockdown in Shanghai following the resurgence of Covid-19 cases. Singapore’s Straits Times In...

Market Daily Report: Bursa Malaysia ends higher for third day running, KLCI stays above 1,600

  KUALA LUMPUR (March 25): Bursa Malaysia closed broadly higher for a third consecutive day, successfully staying above the key 1,600 level after several attempts previously, as Malaysia's reopening of international borders from April 1, 2022 boosted buying interest in real estate investment trusts, tourism-related counters and consumer products. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 4.33 points to 1,603.3 from 1,598.97 at Thursday’s close. The barometer index opened 2.34 points easier at 1,596.63, its intraday low, and hit the day's high of 1,603.69 just before the session ended. On the broader market, gainers outpaced losers 592 to 378, while 429 counters were unchanged, 903 untraded, and 44 others suspended. Total turnover increased to 2.78 billion units valued at RM2.22 billion from 2.71 billion units valued at RM2.11 billion on Thursday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI remai...

Market Daily Report: Bursa Malaysia ends marginally higher

  KUALA LUMPUR (March 24): Bursa Malaysia closed higher for a second consecutive day after a relatively quiet but choppy trading session amid a mixed regional market performance as investors remained cautious on the increasing market volatility. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose slightly by 1.09 points to 1,598.97 from 1,597.88 at Wednesday’s close. The barometer index opened 2.03 points easier at 1,595.85, and moved between 1,593.53 and 1,601.16 throughout the session. On the broader market, gainers led losers 482 to 429, while 434 counters were unchanged, 957 untraded, and 12 others suspended. Total turnover declined to 2.71 billion units valued at RM2.11 billion from 3.55 billion units valued at RM2.64 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the benchmark index closed 0.06% higher, lifted mainly by gaming and oil and gas stocks. “However, key regional markets were mostly lower du...

Market Daily Report: Bursa Malaysia ends higher on improved market sentiment

  KUALA LUMPUR (March 23): Bursa Malaysia closed 0.76% higher Wednesday, boosted by improved market sentiment across the region, as buying support emerged primarily in banking, gaming and glove stocks. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 12.07 points better at 1,597.88 from 1,585.81 at Tuesday’s close. The key index opened 2.97 points better at 1,588.78 to record its intraday low, and hit a high of 1,601.83 about half an hour before the trading session ended. On the broader market, gainers thumped losers 701 to 322, while 417 counters were unchanged, 863 untraded, and 13 others suspended. Total turnover improved to 3.55 billion units valued at RM2.64 billion from 3.09 billion units valued at RM2.84 billion on Tuesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the local bourse tracked the better performance of regional equities following the overnight gains on Wall Street. “We are cautiously optimistic given th...

Market Daily Report: Bursa Malaysia ends mixed

  KUALA LUMPUR (March 22): Bursa Malaysia ended mixed on Tuesday (March 22) with the barometer index easing 0.09% after going through a choppy trading day, with buying interests spotted mainly in plantation and oil and gas (O&G) counters, while the broader market was slightly positive on mild buying support. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.35 points weaker at 1,585.81 from 1,587.16 at Monday’s close. After opening 1.63 points easier at 1.585.53, the key index moved between 1,583.97 and 1,591.67 throughout the trading session. On the broader market, gainers outnumbered losers 504 to 403, while 441 counters were unchanged, 965 untraded, and 24 others suspended. Total turnover soared to 3.09 billion units valued at RM2.84 billion from 2.44 billion units valued at RM2.27 billion on Monday.  Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said buying interest centred mainly on plantation and O&G counters dur...

Market Daily Report: Bursa Malaysia ends flat on late foreign buying

  KUALA LUMPUR (March 18): Bursa Malaysia ended the week on a flattish note following a roller coaster session due to foreign buying during the last minutes of trading, said an analyst. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.02% or 0.38-of-a-point higher at 1,591.26 from 1,590.88 at Thursday’s (March 17) close. After opening 2.80 points better at 1.593.68, the market bellwether moved between 1,583.25 and 1,594.76 throughout the trading session. On the broader market, losers outnumbered gainers 468 to 425, while 448 counters were unchanged, 980 untraded and 45 others suspended. Total turnover decreased to 3.33 billion units valued at RM5.70 billion from 3.34 billion units worth RM3.71 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets trended mixed as investors were cautious ahead of a telephone call between US President Joe Biden and his Chinese counterpart Xi Jinping on Friday...

Market Daily Report: Bursa Malaysia ends higher on continued buying support

  KUALA LUMPUR (March 17): The local equity market continued its upward trajectory with Bursa Malaysia closing 1.24% higher on Thursday (March 17) on buying support across the board except for plantation counters, analysts said.  At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 19.56 points firmer at 1,590.88 from 1,571.32 at Wednesday’s close. The market bellwether opened 6.24 points higher at 1,577.56, and fluctuated between 1,577.56 and 1,592.9 throughout the trading session. The broader market was also positive with 756 gainers and 296 losers, while 402 counters were unchanged, 856 untraded, and 14 others suspended. Total turnover increased to 3.34 billion units worth RM3.71 billion from 2.59 billion units valued at RM2.71 billion on Wednesday.  Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional markets were also in the positive territory, except for Indonesia, following the overnight rally on Wall Str...

Market Daily Report: Bursa Malaysia ends at intraday high on bargain hunting

  KUALA LUMPUR (March 16): Bursa Malaysia ended at its intraday high Wednesday (March 16) as bargain hunting emerged after three days of losses, an analyst said.  At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.89% or 13.91 points firmer at 1,571.32 from 1,557.41 at Tuesday’s close. The index opened 3.15 points lower at 1,554.26 — its intraday low.  On the broader market, the local bourse saw 732 gainers and 263 losers, while 378 counters were unchanged, 938 untraded, and 14 others suspended. Total turnover declined to 2.59 billion units worth RM2.71 billion from 2.69 billion units valued at RM2.50 billion on Tuesday.  Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices were higher as investors took opportunities to bargain hunt for cheaper stocks following the recent selldown. “As for the local bourse, we expect bargain hunting to continue given the cheap valuations of local stocks, continu...

Market Daily Report: Bursa Malaysia closes lower on lack of buying interest

  KUALA LUMPUR (March 15): Bursa Malaysia closed lower on lack of buying interest while investors continue to take profit on oil and gas, plantation and technology stocks, said an analyst. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.64% or 10.03 points weaker at 1,557.41 from 1,567.44 at Monday’s close. After opening 2.54 points lower at 1,564.9, the benchmark index fluctuated between 1,554.17 and 1,566.74 throughout the trading session. On the broader market, the local bourse saw 759 losers and 234 gainers, while 356 counters were unchanged, 952 untraded and 14 others suspended. Total turnover widened to 2.69 billion units valued at RM2.5 billion compared with 2.51 billion units valued at RM2.22 billion on Monday.   Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices were also in the red with Hong Kong’s Hang Seng Index falling 5.72% due to heavy selldown on technology stocks while the Shanghai S...

Market Daily Report: Bursa Malaysia ends marginally lower

  KUALA LUMPUR (March 14): Bursa Malaysia closed marginally lower as selling pressure in most indices was cushioned by some buying interest, led by healthcare and financial stocks, amidst mixed regional peers, analysts said.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.05% or 0.78 of-a-point easier at 1,567.44 from 1,568.22 at Friday’s close. The market bellwether opened 2.48 points higher at 1,570.7 and fluctuated between 1,556.1 and 1,572.6 throughout the day. The overall market breadth was negative with 637 losers and 317 gainers, while 368 counters were unchanged, 979 untraded, and 13 others suspended. Total turnover widened to 2.51 billion units valued at RM2.22 billion against 2.41 billion units worth RM2.27 billion on Friday.  Rakuten Trade Sdn Bhd vice president of Equity Research Thong Pak Leng said after a roller-coaster trading day, investors took profit during the last minutes of trading, particularly in oil and gas and plantation stocks...

Market Daily Report: Bursa Malaysia ends lower on persistent profit taking

  KUALA LUMPUR (March 11): Bursa Malaysia closed lower as profit taking persisted on the broader market amidst weak sentiment shrouding most regional peers, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 0.78% or 12.31 points to 1,568.22 from 1,580.53 at Thursday’s close Earlier, the market bellwether opened 5.39 points weaker at 1,575.14, and fluctuated between 1,560.63 and 1,575.14 throughout the trading session. However, the overall market breadth was almost even with 450 gainers and 449 losers, while 413 counters were unchanged, 990 untraded, and 14 others suspended. Total turnover fell to 2.41 billion units worth RM2.27 billion against 3.08 billion units worth RM3.4 billion on Thursday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the local bourse was weaker as investors took profits on oil and gas as well as plantation counters amid heightened regional volatility. “Regionally, key indices were also lower du...

Market Daily Report: Bursa Malaysia settles higher, tracking sentiment across region

  KUALA LUMPUR (March 10): Bursa Malaysia extended earlier gains to finish higher on Thursday (March 10) due to improving market sentiment across the region and the broadly positive cues overnight from Wall Street, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.16% or 18.2 points to 1,580.53 from 1,562.33 at Wednesday's close.  The barometer index, which opened 8.38 points stronger at 1,570.71, moved between 1,567.77 and 1,581.27 throughout the session on Thursday. Overall market breadth remained positive with gainers outpacing decliners 608 to 421, while 382 counters were unchanged, 876 untraded and 13 others suspended. Total turnover declined to 3.08 billion units worth RM3.4 billion against 3.5 billion units worth RM3.51 billion at Wednesday's close. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key indices remained on an upward trajectory in line with regional peers amid slightly easing worries about ...

Market Daily Report: Bursa Malaysia snaps three days of losses to end higher

  KUALA LUMPUR (March 9): Bursa Malaysia snapped a three-day losing streak to end higher on Wednesday (March 9) as bargain hunting emerged in selected heavyweights led by Hong Leong Bank Bhd, Petronas Chemicals Group Bhd, and Sime Darby Plantation Bhd.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) expanded 1%, or 15.46 points, to 1,562.33 from 1,546.87 at Tuesday's close.  The barometer index, which opened 3.45 points better at 1,550.32, moved between 1,543.91 and 1,568 throughout the session on Wednesday. Overall market breadth was positive with gainers beating decliners 799 to 272, while 344 counters were unchanged, 858 untraded, and 11 others suspended. Total turnover shrank to 3.5 billion units worth RM3.51 billion against 3.96 billion units worth RM3.77 billion at Tuesday's close. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the reopening of Malaysia's borders on April 1, 2022 lifted market sentiment. However, he said k...

Market Daily Report: Bursa Malaysia ends lower for third straight day

  KUALA LUMPUR (March 8): Bursa Malaysia closed lower for the third consecutive trading day on Tuesday (March 8) on continued selling pressure, with all indices in the negative territory, tracking developments in the Russia-Ukraine crisis, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.63% or 25.69 points to 1,546.87 from 1,572.56 at Monday's close. The index, which opened 6.11 points weaker at 1,566.45, moved between 1,540.9 and 1,566.84 throughout the trading session. Overall market breadth was negative with losers beating gainers 794 to 272, while 368 counters were unchanged, 838 untraded, and 11 others suspended. Total turnover fell to 3.96 billion units worth RM3.77 billion against 4.35 billion units worth RM3.75 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional peers were also in the red, following the broadly negative cues from Wall Street overnight on concerns about the outlook fo...

Market Daily Report: Bursa Malaysia succumbs to heavy selling pressure to end broadly lower

  KUALA LUMPUR (March 7): Heavy selling across the board dragged Bursa Malaysia down by 1.96% in tandem with the downtrend in regional bourses as the Russian-Ukraine tensions continued to hurt investor sentiment, a dealer said. The FBM KLCI earlier fell 38.37 points to its intraday low of 1,565.57 at 4.28pm, before gathering steam following nibbling on selected heavyweights led by Nestle (Malaysia) Bhd, Sime Darby Plantation Bhd and MISC Bhd to end off its low. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 31.38 points to 1,572.56 from 1,603.94 at Friday’s close. The barometer index opened 2.33 points firmer at 1,606.27 and hit an intraday high of 1,606.56 before succumbing to persistent selling pressure for most of the day. Overall market breadth was negative with losers thumping gainers 1,085 to 152, while 234 counters were unchanged, 792 untraded, and 10 others suspended Total turnover rose to 4.35 billion units worth RM3.75 billion against 3.44 billion un...

Market Daily Report: Bursa Malaysia falls on March 4, as worries over Ukraine nuclear disaster spook investors

  KUALA LUMPUR (March 4): Bursa Malaysia ended lower on Friday (March 4) due to profit-taking activities across the board amid the weaker regional market sentiment on reports that Russia has seized a Ukrainian nuclear power plant, the largest in Europe, a dealer said. Markets in the region were also spooked by earlier reports that a building in the nuclear complex had caught fire during fighting between Russian and Ukrainian forces, although the latest report is that the fire had been extinguished. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.6 points to 1,603.94, from 1,618.54 at Thursday (March 3)'s close. The barometer index, which opened 2.54 points lower at 1,616.00, moved between 1,598.17 and 1,616.28  throughout the trading session. The broader market was negative, with decliners beating gainers 849 to 239, while 341 counters were unchanged, 811 untraded, and nine others suspended. Turnover improved to 3.44 billion units valued at RM3.29 billion,...

Market Daily Report: FBM KLCI closes up 1.66 points at 1,598.10

  KUALA LUMPUR (March 2): Shares on Bursa Malaysia were mostly down in line with the weaker regional market performance and overnight sell-down on Wall Street, a dealer said. However, the FBM KLCI rebounded on late buying interest, mainly driven by plantation, and industrial product and services stocks amid the surge in oil prices. At 5pm on Wednesday (March 2), the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.10% or 1.66 points to 1,598.10 from 1,596.44 at Tuesday's (March 1) close. The index, which opened 4.69 points better at 1,601.13, moved between 1,592.62 and 1,606.38 throughout the trading session. On the broader market, losers thumped gainers 607 to 406, while 378 counters were unchanged, 856 untraded, and 18 others suspended. Turnover improved to 3.23 billion units valued at RM3.68 billion from Tuesday’s 3.21 billion units worth RM3.25 billion. At the time of writing, Brent Crude was 6.05% higher at US$111.32 per barrel. Rakuten Trade Sdn Bhd vice-pr...