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 (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 (March 18) to resolve the Russia-Ukraine conflict.
“Back home, we prefer to stay cautious over the short term due to the heightened regional market volatility,” he said.
Meanwhile, Bursa heavyweights Maybank increased four sen to RM9.02, Public Bank added six sen to RM4.69, and Tenaga Nasional recovered 34 sen to RM9.42.
Petronas Chemicals and IHH Healthcare slid two sen each to RM9.40 and RM6.37 respectively and CIMB dipped 12 sen to RM5.36 while Press Metal was flat RM6.35
Of the actives, Sime Darby Property fell two sen to 56 sen, while XOX and AT Systematization were both flat at two sen respectively.
On the index board, the FBM Emas Index was 6.21 points down at 11,268.47, FBM Emas Shariah Index shed 0.38 of-a-point to 11,817.99, FBM 70 retreated 90.11 points to 13,267.98, FBMT 100 Index slipped 13.91 points to 10,976.72, and the FBM ACE narrowed 24.36 points to 5,339.46.
Sector-wise, the Industrial Products and Services Index bagged 0.36 of-a-point to 203.34, the Financial Services Index dropped 63.79 points to 16,731.79, while the Plantation Index gained 82.53 points to 7,909.95.
The Main Market volume was higher at 2.51 billion shares worth RM5.55 billion compared with 2.00 billion shares valued at RM3.40 billion on Thursday.
Warrants turnover slipped to 384.19 million units valued at RM73.84 million against 748.13 million units worth RM130.23 million on Thursday.
The ACE Market volume expanded to 434.72 million shares worth RM85.67 million versus 596.16 million shares valued at RM173.65 million previously.
Consumer products and services counters accounted for 332.59 million shares traded on the Main Market, industrial products and services (432.01 million), construction (90.47 million), technology (305.56 million), SPAC (nil), financial services (248.86 million), property (266.64 million), plantation (96.73 million), REITs (70.09 million), closed/fund (200), energy (212.80 million), healthcare (192.63 million), telecommunications and media (91.13 million), transportation and logistics (13.08 million), and utilities (157.28 million).
Source: The Edge
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