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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 closes marginally firmer on continued buying of blue chips

  KUALA LUMPUR (April 29): Bursa Malaysia ended slightly higher in volatile trading on Friday (April 29), boosted by continued buying support in selected heavyweight counters such as gaming, oil and gas, as well as plantation stocks. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 3.12 points, or 0.2%, to 1,600.43 from Thursday’s close of 1,597.31. The benchmark index opened 4.71 points higher at 1,602.02 and moved between 1,595.78 and 1,605.02 throughout the day. On the broader market, gainers outpaced decliners 566 to 390, while 448 counters were unchanged, 884 untraded, and 67 others suspended. Total turnover rose to 2.81 billion units worth RM2.07 billion from 2.48 billion units worth RM2.19 billion on Thursday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional markets maintained their uptrend on the strong buying of technology stocks following big gains on Nasdaq overnight. As for the local bourse, the 1,600 psycholog...

Market Daily Report: Bursa Malaysia ends higher on bargain hunting, improving regional sentiment

  KUALA LUMPUR (April 28): Bursa Malaysia ended broadly higher on Thursday (April 28) due to improving market sentiment across the region, said an analyst. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.33 points, or 0.71% firmer at 1,597.31 from Wednesday’s close of 1,585.98. The benchmark index opened 7.64 points higher at 1,593.62 and moved between 1,590.17 and 1,600.6 throughout the day. On the broader market, gainers outpaced decliners 584 to 354, while 436 counters were unchanged, 916 untraded, and 82 others suspended. Total turnover rose marginally to 2.48 billion units worth RM2.19 billion from 2.21 billion units worth RM1.89 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices trended higher as investors took the opportunity to pick up stocks at a bargain after the recent sell-off. The China State Council's pledge to stabilise employment at its latest meeting also helped lift investo...

Market Daily Report: Bursa Malaysia ends lower amid mixed regional market

  KUALA LUMPUR (April 27): Bursa Malaysia closed broadly lower on selling in heavyweights led by Petronas Chemicals Group Bhd and Press Metal Aluminium Holdings Bhd, amid a mixed regional market performance due to uncertainties and heightened market volatility, dealers said. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 10.7 points or 0.67% lower to 1,585.98 from Tuesday’s close of 1,596.68. The index opened 5.03 points weaker at 1,591.65 and moved between 1,585.17 and 1,593.34 throughout the day. Market breadth was broadly negative with losers surpassing gainers 645 to 300, while 425 counters were unchanged, 921 untraded, and 43 others suspended. Total turnover fell marginally to 2.21 billion units worth RM1.89 billion from 2.25 billion units worth RM1.92 billion on Tuesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional markets ended mixed due to mixed sentiment amid the increasing global market risks. Shanghai’s ...

Market Daily Report: Bursa Malaysia ends higher

  KUALA LUMPUR (April 26): Bursa Malaysia closed broadly higher as investors took the opportunity to bargain hunt for cheaper stocks following Monday's decline. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.7 points or 0.42% to 1,596.68 from Monday’s close of 1,589.98. The index opened 9.74 points firmer at 1,599.72 and moved between 1,592.47 and 1,602.69 throughout the day. On the broader market, gainers beat losers 506 to 393, while 455 counters were unchanged, 936 untraded, and 27 others suspended. Total turnover fell to 2.25 billion units worth RM1.92 billion from 3.13 billion units worth RM2.63 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional markets were mixed despite positive cue on Wall Street overnight as investors were wary of the Covid-19 situation in Shanghai, China, which may spur further lockdowns. “Back home, we remain cautious over the short term due to the heightened regional market...

Market Daily Report: Bursa Malaysia ends at day's low on bearish sentiment

  KUALA LUMPUR (April 25): Bursa Malaysia ended broadly lower on Monday (April 25) on persistent selling in selected heavyweights amid bearish sentiment surrounding regional stock markets. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 11.99 points or 0.75% to end at its intraday low of 1,589.98 from last Friday’s close of 1,601.97. The FBM KLCI opened 2.59 points easier at 1,599.38, which was the day's high, and lost steam further to end at its intraday low at closing. Losers trounced gainers by 876 to 236, while 303 counters were unchanged, 884 untraded, and 25 others suspended. Total turnover rose to 3.13 billion units worth RM2.63 billion from 2.64 billion units worth RM2.56 billion on Friday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional markets ended sharply lower with Shanghai’s SSE Composite Index and Hong Kong’s Hang Seng Index falling by 5.13% and 3.73%, respectively, as investors weighed on Chi...

Market Daily Report: Bursa Malaysia ends higher on April 22, KLCI a whisker above key 1,600 level

  KUALA LUMPUR (April 22): Bursa Malaysia closed the week higher on bargain hunting in selected heavyweights, with the barometer index ending just a whisker above the key 1,600 level, despite weak market sentiment across the region. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.65 points or 0.22% to 1,601.97 on Friday (April 22), from Thursday’s close of 1,598.32. The market bellwether opened 0.25 of-a-point easier at 1,598.07 and moved between 1,594.72 and 1,603.32 throughout the day. However, on the broader market, losers beat gainers 538 to 385 while 418 counters were unchanged, 960 untraded, and 25 others suspended. Total turnover fell to 2.64 billion units worth RM2.56 billion, from 2.84 billion units worth RM2.03 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said that the key indices were mostly lower regionally, following the overnight selldown on Wall Street, as the US Federal Reserve chairman Jer...

Market Daily Report: Bursa Malaysia snaps losing streak to end higher on April 20

  KUALA LUMPUR (April 20): Bursa Malaysia snapped a three-day losing streak to end higher on Wednesday (April 20) on bargain hunting particularly in plantation, construction and financial services counters, said an analyst. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.61 points or 0.79% to 1,593.75, from Monday (April 18)’s close of 1,581.14. The barometer index opened 4.68 points firmer at 1,585.82 and moved between 1,584.87 and 1,597.07 throughout the day. Market breadth was also positive, with advancers surpassing decliners at 573 versus 386, with 411 counters unchanged, 901 untraded, and 26 others suspended. Total turnover increased to 3.11 billion units   worth RM2.60 billion from 2.44 billion units   worth RM1.57 billion on Monday. The market was closed on Tuesday (April 19), in conjunction with the Nuzul Al-Quran holiday. Rakuten Trade Sdn Bhd vice-pres...

Market Daily Report: Bursa Malaysia ends at intraday low, KLCI down 0.49%

  KUALA LUMPUR (April 18): Bursa Malaysia ended in the negative territory for the third straight trading session on Monday (April 18) amid mixed performance in regional markets as stocks succumbed to selling pressure.  At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at its intraday low of 1,581.14, down 7.87 points or 0.5%, against Friday’s close of 1,589.01. The barometer index hit an intraday high of 1,591.64 in the early morning trading session. On the broader market, losers outpaced gainers 558 to 314 with 397 counters unchanged, 980 untraded, and 24 others suspended. Total turnover increased to 2.44 billion units worth RM1.57 billion from 2.15 billion units worth RM1.41 billion last Friday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the local equities continued to decline due to lack of buying interest, amid continuous selling pressure due to weak regional sentiment. Regionally, the key indices were mostly lo...

Market Daily Report: Bursa Malaysia ends lower in sync with regional peers

    KUALA LUMPUR (April 15): Bursa Malaysia finished trading on an easier note on Friday (April 15) in sync with most key regional bourses.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 6.69 points, or 0.42%, to end at its intraday low of 1,589.01 compared with Thursday’s close of 1,595.7. The barometer index hit an intraday high of 1,596.62 in the early morning trading session after opening 0.88 of-a-point firmer at 1,596.58. On the broader market, losers outpaced gainers 487 to 310 with 448 counters unchanged, 1,007 untraded, and 27 others suspended. Total turnover decreased to 2.15 billion units worth RM1.41 billion from 3.32 billion units worth RM2.0 billion on Thursday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the index continued to close in negative territory mainly due to continuous selling pressure amid weak sentiment across the region. “Key regional markets closed broadly lower following negative performance...

Market Daily Report: Bursa Malaysia ends lower on last-minute selling

  KUALA LUMPUR (April 14): Bursa Malaysia finished lower on Thursday (April 14) on last-minute selling in heavyweights. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) moved in positive territory earlier but profit taking in index-linked counters emerged in the last 10 minutes of trading, pushing the key index to settle at its intraday low.  At 5pm, the FBM KLCI fell 1.48 points to end at 1,595.7 compared with Wednesday’s close of 1,597.18. The barometer index moved between 1,595.7 and 1,602.38 throughout the day, after opening 3.92 points better at 1,601.1. On the broader market, losers outpaced gainers 465 to 445 with 440 counters unchanged, 903 untraded and 27 others suspended. Total turnover decreased to 3.32 billion units worth RM2.0 billion from 3.54 billion units worth RM2.42 billion on Wednesday. Speaking to Bernama , Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the index ended flattish after a roller-coaster trading session. ...

Market Daily Report: Bursa Malaysia ends marginally higher

  KUALA LUMPUR (April 13): Bursa Malaysia pared some of its early gains to end the day marginally higher on bargain hunting in selected heavyweights led by Hong Leong Bank Bhd, Telekom Malaysia Bhd (TM) and Hong Leong Financial Group Bhd (HLFG). At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.05 of-a-point to end at 1,597.18, compared with Tuesday’s close of 1,597.13. Hong Leong Bank rose 16 sen to RM20.58, TM added 12 sen to RM4.88 and HLFG perked up eight sen to RM19.36. The three stocks contributed a combined 1.56 points to the gain in the barometer index.  The FBM KLCI opened 2.49 points firmer at 1,599.62 and moved between 1,596.13 and 1,605.11 throughout the day. Market breadth was positive with gainers leading losers 505 to 394 with 463 counters unchanged, 891 untraded, and 12 others suspended. Total turnover decreased to 3.54 billion units worth RM2.42 billion from 3.9 billion units worth RM2.44 billion on Tuesday. Rakuten Trade Sdn Bhd vi...

Market Daily Report: Bursa Malaysia ends lower

  KUALA LUMPUR (April 12): Bursa Malaysia closed lower on Tuesday (April 12) on profit taking across the board, amid a mixed performance in regional peers as investors await the release of US inflation data later on Tuesday. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.48 points or 0.47% easier at 1,597.13, its intraday low, compared with Monday’s close of 1,604.61. The barometer index opened 0.74 of-a-point easier at 1,603.87 and hit a high of 1,603.98 in the morning session. On the broader market, losers beat gainers 578 to 340, while 444 counters were unchanged, 891 untraded, and 12 others suspended. Total turnover decreased to 3.9 billion units worth RM2.44 billion from 4.4 billion units worth RM2.37 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices closed mixed as investors continued to monitor high inflation and tighter monetary policy expected in the US and the Covid-19 lockdo...

Market Daily Report: https://www.theedgemarkets.com/article/bursa-malaysia-ends-lower-sync-regional-peers

    KUALA LUMPUR (April 11): Bursa Malaysia closed slightly lower on selling pressure in most sectors, led by healthcare and financial services counters, in line with the weaker regional market performance. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.68 points or 0.17% easier at 1,604.61 compared with Friday’s close of 1,607.29. The barometer index opened 0.66 of-a-point higher at 1,607.95 and moved between 1,603.22 and 1,613.46 throughout the day. On the broader market, losers trounced gainers 774 to 317, while 356 counters were unchanged, 807 untraded, and 13 others suspended. Total turnover increased to 4.40 billion units worth RM2.37 billion from 2.93 billion units worth RM1.85 billion on Friday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI closed marginally lower as investors took the opportunity to take profit during the final hour of trading. He said that regionally, key indices closed broadly l...

Market Daily Report: Bursa ends on firm note, in line with regional peers

    KUALA LUMPUR (April 8): Bursa Malaysia ended the week on a firm note, with buying support seen across the board, in tandem with regional peers, dealers said. At 5pm on Friday (April 8), the benchmark FBM KLCI was 6.50 points, or 0.41%, higher at 1,607.29, compared with Thursday's close at 1,600.79. The barometer index opened 2.94 points better at 1,603.73 and moved between 1,599.20 and 1,608.11 throughout the day. On the broader market, gainers surpassed decliners 535 to 396, while 436 counters were unchanged, 869 untraded and 16 others suspended. Total turnover decreased to 2.93 billion units   worth RM1.85 billion from 3.34 billion units worth RM2.54 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI continued its upward trajectory due to buying support for selected heavywe...

Market Daily Report: KLCI ends lower, stays above key 1,600 level

    KUALA LUMPUR (April 7): Bursa Malaysia’s benchmark index ended slightly lower after trading in a range-bound mode as selling interspersed with buying of selected heavyweights, mainly plantation, banking and oil and gas stocks, dealers said. At 5pm on Thursday (April 7), the benchmark FBM KLCI was 3.93 points, or 0.24%, lower at 1,600.79, compared with Wednesday's close at 1,604.72.  The key index opened 0.79 of a point better at 1,605.51 and moved between 1,597.95 and 1,606.13 throughout the day. On the broader market, advancers thumped decliners 597 to 422, while 422 counters were unchanged, 830 untraded and 16 others suspended.  Total turnover decreased to 3.34 billion units   worth RM2.54 billion from 3.43 billion units worth RM2.47 billion on Wednesday. A dealer noted that the local bourse...

Market Daily Report: Bursa ends firmer, bucks regional downtrend

  KUALA LUMPUR (April 6): Bursa Malaysia ended on a firmer note on strong buying support for selected heavyweights, led by plantation and banking stocks, bucking the downtrend among regional peers. At 5pm on Wednesday (April 6), the benchmark FBM KLCI was 7.93 points higher at 1,604.72, compared with Tuesday's close at 1,596.79.  The key index opened 0.67 of a point easier at 1,596.12 and moved between 1,595.19 and 1,605.50 throughout the day. On the broader market, gainers thumped decliners 601 to 435, while 405 counters were unchanged, 795 untraded and 13 others suspended.  Total turnover decreased to 3.43 billion units   worth RM2.46 billion from 3.87 billion units worth RM2.37 billion on Tuesday. A dealer noted that Bursa had stayed upbeat for the rest of the day, bucking the downtrend among regional peers. “K...

Market Daily Report: Bursa Malaysia ends mixed, FBM KLCI down 2.13 points

  KUALA LUMPUR (April 5): Bursa Malaysia ended mixed on Tuesday (April 5) with the key index easing slightly on selling in selected heavyweights, mainly in banking stocks, while the broader market showed a positive tone. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.13 points easier at 1,596.79 compared with Monday's close of 1,598.92. The barometer index opened 2.74 points better at 1,601.66, and moved between 1,594.41 and 1,601.68 throughout the session. However, on the broader market, gainers thumped losers 653 to 308, while 416 counters were unchanged, 860 untraded, and 10 others suspended. Total turnover increased to 3.87 billion units worth RM2.37 billion from 3.38 billion units worth RM2.06 billion on Monday. A dealer noted that Bursa Malaysia opened higher but retreated after a few minutes of trading, succumbing to selling pressure in selected heavyweights, and moved in a range-bound mode throughout the session. “The FBM KLCI pulled back to ...

Market Daily Report: Bursa Malaysia bucks regional trend to end slightly lower

  KUALA LUMPUR (April 4): Bursa Malaysia bucked the regional market trend to end slightly lower on Monday (April 4), weighed down by profit taking in selected heavyweights amid cautious trading mode. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.49 points easier at 1,598.92 from 1,602.41 at Friday's close. The barometer index opened 0.38 of-a-point easier at 1,602.03, and moved between 1,594.77 and 1,602.32 throughout the session. However, on the broader market, gainers thumped losers 617 to 355, while 419 counters were unchanged, 853 untraded and 35 others suspended. Total turnover increased to 3.38 billion units worth RM2.06 billion from 3.13 billion units worth RM2.16 billion on Friday. A dealer said Bursa Malaysia opened easier in a cautious mode, retreating from a firmer close on Friday and continued in negative territory for the whole trading session. “Concerns over Russia’s war in Ukraine and expectations of further US interest rate hikes continu...

Market Daily Report: Bursa Malaysia ends at intraday high on strong buying interest

  KUALA LUMPUR (April 1): Bursa Malaysia recouped early losses to close at its intraday high on Friday (April 1), with the key index advancing 0.95% on strong buying interest, mainly driven by selected heavyweights in financial services as well as industrial products and services counters. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 15.05 points to 1,602.41 from 1,587.36 at Thursday's close. The index opened 0.93 of-a-point higher at 1,588.29 and hit a low of 1,582.09 in the morning session. On the broader market, gainers led losers 554 to 406, with 419 counters unchanged, 857 untraded, and 35 others suspended. Total turnover increased to 3.13 billion units worth RM2.16 billion from 2.86 billion units worth RM2.36 billion on Thursday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the reopening of the international borders beginning Friday after two years of closure due to Covid-19 pandemic provided a boost to the country...