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 (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's economy and prospects of recovery in some sectors.
“Regionally, the key indices closed mostly higher on bargain hunting.
“On the domestic front, we believe the overall sentiment remains cautious due to lack of catalysts,” he told Bernama.
Regionally, Hong Kong's Hang Seng Index added 0.19% to 22,039.55, Singapore’s Straits Times Index gained 0.31% to 3,419.11, China’s Shanghai Stock Exchange increased 0.94% to 3,282.72, while South Korea’s Kospi fell 0.65% to 2,739.85, and Japan's Nikkei 225 fell 0.56% to 27,665.98.
Back home, Bursa Malaysia’s heavyweights Malayan Banking Bhd added four sen to RM8.98, Public Bank Bhd advanced 11 sen to RM4.78, Petronas Chemicals Group Bhd improved 17 sen to RM9.77, IHH Healthcare Bhd bagged five sen to RM6.25, while CIMB Group Holdings Bhd was flat at RM5.33.
Of the actives, ACE Market debutant Pappajack Bhd increased 9.5 sen to 39.5 sen, KNM Group Bhd rose 2.5 sen to 18 sen, TWL Holdings Bhd gained one sen to eight sen, Hextar Industries Bhd perked up three sen to 34.5 sen, while Metronic Global Bhd was flat at two sen.
On the index board, the FBM 70 advanced 19.38 points to 13,872.85, FBMT 100 Index climbed 83.89 points to 11,150, FBM Emas Index bagged 84.33 points to 11,471.65, FBM Emas Shariah Index rose 90.5 points to 12,033.85, while FBM ACE advanced 67.06 points to 5,685.88.
Sector-wise, the Industrial Products and Services Index edged up 0.91 of-a-point to 206.35, the Plantation Index trimmed 4.22 points to 7,948.76, while the Financial Services Index improved 130.27 points to 16,908.86.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's economy and prospects of recovery in some sectors.
The Main Market volume fell to 1.92 billion shares worth RM1.83 billion compared with 2.08 billion shares worth RM2.2 billion yesterday.
Warrants turnover rose to 440.92 million units valued at RM69.88 million against 359.59 million units valued at RM58.62 million.
The ACE Market volume expanded to 762.11 million shares worth RM253.87 million versus 404.61 million shares worth RM101.83 million previously.
Consumer products and services counters accounted for 324.17 million shares traded on the Main Market, industrial products and services (580.01 billion), construction (83.26 million), technology (157.66 million), SPAC (nil), financial services (73.27 million), property (224.1 million), plantation (54.33 million), REITs (6.69 million), closed/fund (nil), energy (181.08 million), healthcare (161.56 million), telecommunications and media (39.41 million), transportation and logistics (15.3 million), and utilities (18.7 million).
Source: The Edge
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