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 (May 27): Late buying of selected heavyweights, led by healthcare as well as industrial products and services counters, has pushed Bursa Malaysia from earlier losses to end at the intraday high, in line with bullish sentiment on regional bourses, dealers said.
IHH Healthcare Bhd and Petronas Chemicals Group Bhd were among the top gainers, putting on 11 sen each to end at RM6.60 and RM9.98 respectively, and contributed a total of 3.2 points to the gain in the FBM KLCI.
At 5pm on Friday (May 27), the benchmark index settled 5.61 points, or 0.36%, higher at 1,546.76, from Thursday’s close at 1,541.15, after hitting a low of 1,531.56 during the day.
The benchmark index, which opened 0.45 of a point lower at 1,540.70, remained in negative territory for the most part of the day.However, market breadth was negative with decliners outpacing advancers 535 to 400, while 411 counters were unchanged, 964 untraded and 40 others suspended.
Total turnover slipped to 2.78 billion units worth RM2.01 billion from 2.89 billion units worth RM1.92 billion on Thursday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional markets ended in positive territory following the broadly positive cues from Wall Street overnight, with buying interest mainly in technology and energy stocks.
“Investors also continued to pick up stocks at relatively reduced levels following recent weakness,” he told Bernama on Friday.
Regionally, Singapore’s Straits Times Index added 0.6% to 3,228.33, Japan’s Nikkei 225 gained 0.66% to 26,781.68, Hong Kong’s Hang Seng rose 2.89% to 20,697.36, South Korea’s KOSPI increased 0.98% to 2,638.05, and China's SSE Composite Index gained 0.23% to 3,130.24.
Back home, heavyweights Malayan Banking Bhd (Maybank) added one sen to RM8.99, Public Bank Bhd and Hong Leong Bank Bhd improved two sen each to RM4.62 and RM21 respectively, while Tenaga Nasional Bhd (TNB) and CIMB Group Holdings Bhd rose four sen each to RM9.25 and RM5.05 respectively.
Of the actives, Cnergenz Bhd declined five sen to 62.5 sen, Ta Win Holdings Bhd fell one sen to 11.5 sen, Dagang NeXchange Bhd (DNeX) shed three sen to RM1.01, while Sapura Energy Bhd earned half a sen to eight sen.
On the index board, the FBM ACE decreased 59.28 points to 5,146.70, the FBM Emas Shariah Index went up 38.07 points to 11,391.89, the FBM Emas Index improved 26.58 points to 11,011.12, the FBMT 100 Index climbed 31.87 points to 10,707.68, and the FBM 70 put on 10.56 points to 13,098.56.
Sector-wise, the Industrial Products and Services Index was 1.07 points higher at 199.41, the Plantation Index gained 21.03 points to 8,009.72, and the Financial Services Index rose 54.50 points to 16,644.41.
The Main Market volume decreased to 1.79 billion shares worth RM1.71 billion from 1.86 billion shares worth RM1.72 billion on Thursday.
Warrant turnover widened to 567.8 million units valued at RM111.38 million versus 379.61 million units valued at RM74.24 million previously.
The ACE Market volume expanded to 424.5 million shares worth RM189.64 million from 649.14 million shares worth RM181.37 million.
Consumer products and services counters accounted for 221.82 million shares traded on the Main Market, followed by industrial products and services (486.15 million), construction (58.16 million), technology (197.61 million), special purpose acquisition companies (nil), financial services (45.17 million), property (133.64 million), plantation (40.44 million), real estate investment trusts (4.88 million), closed/funds (25,700), energy (383.89 million), healthcare (53.76 million), telecommunications and media (85.11 million), transportation and logistics (35.51 million), and utilities (40.44 million).
Source: The Edge
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