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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 ends at an intraday high, KLCI up 1.39%

KUALA LUMPUR (July 28): Bursa Malaysia ended at an intraday high on Thursday (July 28), thanks to the positive local market sentiment and foreign support, in tandem with the uptrend in the regional markets, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 20.49 points, or 1.39%, to 1,491.2 from Wednesday’s close of 1,470.71. The index opened 1.68 points better at 1,472.39 and gained momentum towards the end of the trading day. On the broader market, gainers trounced losers 653 to 264, while 393 counters were unchanged, 988 untraded and 66 others suspended. Total turnover increased to 2.83 billion units worth RM1.81 billion from 2.19 billion units worth RM1.36 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional indices trended broadly higher following upbeat cues on Wall Street overnight. "Investors reacted positively to the US Federal Reserve's (Fed) anticipated interest rate hike....

Market Daily Report: Bursa ends higher amid cautious regional sentiment

KUALA LUMPUR (July 27): The FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded from Tuesday's (July 26) loss to end higher on Wednesday, with the key index advancing by 0.48%, thanks to continuous support from foreign investors amid the cautious sentiment across the region, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.02 points to 1,470.71 from Tuesday’s close of 1,463.69. The index, which opened 0.44 points better at 1,464.13, moved between 1,460.97 and 1,470.96 throughout the day.   On the broader market, gainers outpaced losers 477 to 351, while 391 counters were unchanged, 1,071 untraded, and 20 others suspended. However, total turnover declined to 2.19 billion units worth RM1.36 billion from 2.41 billion units worth RM1.22 billion on Tuesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said Malaysian equities closed broadly higher with buying interests mainly in technology, utilities and telecommunication stocks. ...

Market Daily Report: Bursa ends lower on profit-taking

KUALA LUMPUR (July 26): Bursa Malaysia ended lower on Tuesday (July 26) on persistent profit-taking and lack of market catalysts, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.53 points or 0.38% to 1,463.69 from Monday’s close of 1,469.22. The index, which opened 2.73 points easier at 1,466.49, moved within a narrow range of between 1,459.12 and 1,466.49 throughout the day.   On the broader market, losers outpaced gainers 409 to 390, while 410 counters were unchanged, 1,100 untraded, and 27 others suspended. Total turnover widened to 2.41 billion units worth RM1.22 billion from 2.01 billion units worth RM1.12 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng, however, anticipates foreign funds to continue accumulating local stocks to take advantage of the local market's relatively cheap valuations against regional peers and the weaker ringgit. "As such, we foresee the benchmark index to trend slightl...

Market Daily Report: Bursa ends mixed, late buying lifts KLCI to positive zone

KUALA LUMPUR (July 25): Last-minute buying interest in selected heavyweights led by financial services and utilities stocks helped to lift the FTSE Bursa Malaysia KLCI (FBM KLCI) marginally to end at its intraday high on Monday (July 25), a dealer said. However, on the broader market, losers thumped gainers 531 to 300, while 397 counters were unchanged, 1,068 untraded, and 26 others suspended. At 5pm, the FBM KLCI rose 3.42 points to its intraday high of 1,469.22, from last Friday’s close of 1,465.8. The index, which opened 2.02 points easier at 1,463.78, hit a low of 1,461.28 during the mid-morning session before gaining momentum from the mid-afternoon session towards the end of trading. Total turnover declined to 2.01 billion units worth RM1.12 billion from 2.05 billion units worth RM1.55 billion last Friday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI closed marginally higher due to late buying after a roller-coaster se...

Market Daily Report: Bursa ends week on firmer note, KLCI up 1.07%

KUALA LUMPUR (July 22): Bursa Malaysia ended the week on a firmer note, with the FBM KLCI breaking its resistance in the process on Friday (July 22), thanks to continuous buying support from local institutions and foreign funds, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 15.48 points, or 1.07%, to 1,465.8 from Thursday’s close of 1,450.32. The market bellwether, which opened 0.77 of-a-point higher at 1,451.09, moved between 1,450.73 and 1,468.48 throughout the day. On the broader market, gainers outpaced losers 580 to 278, while 414 counters were unchanged, 1,024 untraded, and eight others suspended. However, total turnover declined to 2.05 billion units worth RM1.55 billion from 2.13 billion units valued at RM1.38 billion on Thursday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investor sentiment improved with the return of foreign funds amid positive factors across the region. He noted that key regional indices mo...

Market Daily Report: Bursa ends higher amid mixed sentiments in regional markets

KUALA LUMPUR (July 21): Bursa Malaysia closed higher on Thursday (July 21), driven by buying mainly in industrial products and services, as well as technology and plantations counters, amid mixed sentiments in the regional markets, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.34 points, or 0.93%, to 1,450.32 from Wednesday’s close of 1,436.98. The barometer index, which opened 4.18 points higher at 1,441.16, moved between 1,440.05 and 1,451.33 throughout the day. Petronas Chemicals Group Bhd, Press Metal Aluminium Holdings Bhd and Sime Darby Plantation Bhd lifted the composite index by 4.39 points after the counters rose by 17 sen to RM8.72, nine sen to RM4.39 and seven sen to RM4.26, respectively.   On the broader market, gainers outpaced losers 589 to 301, while 396 counters were unchanged, 1,002 untraded, and eight others suspended. However, total turnover shrank to 2.13 billion units worth RM1.38 billion from 2.47 billion units valued at ...

Market Daily Report: Bursa higher across the board on bargain hunting

KUALA LUMPUR (July 20): Bursa Malaysia closed higher across the board on Wednesday (July 20) as bargain hunting emerges amid the improving investor sentiment across the region, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.22 points, or 0.58%, to 1,436.98 from Tuesday’s close of 1,428.76. The barometer index, which opened 1.26 points higher at 1,430.02, moved in an uptrend momentum throughout the day with intraday high recorded at 1,438.37. On the broader market, gainers outpaced losers 602 to 271, while 385 counters were unchanged, 1,030 untraded and seven others suspended. Total turnover widened to 2.47 billion units worth RM1.41 billion from 1.73 billion units valued at RM1.32 billion on Tuesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices closed mostly higher after a sharp rebound in US stocks overnight while some investors speculated that the worst of 2022’s equity rout is over. “Back hom...

Market Daily Report: Bursa ends slightly down due to lack of buying catalysts

KUALA LUMPUR (July 19): Bursa Malaysia reversed Monday's (July 18) gains to end marginally lower on Tuesday after a lacklustre trading session, as investors seemed reluctant to make more significant moves due to the absence of buying catalysts, an analyst said. At 5pm, the barometer index slipped 0.78 point, or 0.05%, to 1,428.76 from Monday’s close of 1,429.54. The index, which opened 0.85 point weaker at 1,428.69, moved between 1,417.16 and 1,430.86 throughout the day. On the broader market, losers outpaced gainers 431 to 330, while 399 counters were unchanged, 1,129 untraded, and eight others suspended. Total turnover fell to 1.73 billion units worth RM1.32 billion from 2.4 billion units valued at RM1.28 billion on Monday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regionally, key indices trended mixed due to different reactions to Wall Street’s negative performance, as investors continued to worry about the economic outlook ahead of...

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

KUALA LUMPUR (July 18): Bursa Malaysia ended at an intraday high on Monday (July 18), thanks to bargain hunting and in line with improving sentiment across the region, spurred by an upbeat performance on Wall Street last Friday, analysts said. At 5pm, the barometer index rose 11.1 points or 0.78% to 1,429.54 from last Friday’s close of 1,418.44. The index, which opened 2.45 points higher at 1,420.89, hit a low of 1,416.71 during the mid-morning session before gaining momentum from the start of the afternoon session towards the end of trading. On the broader market, gainers outpaced losers 517 to 334, while 382 counters were unchanged, 1,054 untraded, and 20 others suspended. Total turnover was higher at 2.4 billion units worth RM1.28 billion against 2.05 billion units valued at RM1.06 billion last Friday. The local market succumbed to selling pressure last week due to lack of buying catalyst amid lacklustre trading, which prompted bargain hunters to emerge on Monday as t...

Market Daily Report: Bursa Malaysia ends week on negative note on July 15

KUALA LUMPUR (July 15): Bursa Malaysia ended the week marginally lower on Friday (July 15), with the index declining 0.11% due to lack of buying catalyst amid a lacklustre trading day, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.62 points to 1,418.44 from Thursday's close of 1,420.06. The benchmark index opened unchanged at 1,420.06 — also its intraday high — and slid to a low of 1,415.46 during the morning session, and continued to trade within that range in the afternoon session. On the broader market, losers surpassed gainers 425 to 388, while 419 counters were unchanged, 1,044 untraded, and 20 others suspended. Total turnover improved to 2.05 billion units valued at RM1.06 billion, against 2.01 billion units valued at RM1.20 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices closed mixed on Friday on renewed recession fears due to aggressive monetary tightening by glob...

Market Daily Report: Bursa Malaysia ends mixed on July 14, FBM KLCI rebounds to end on intraday high

KUALA LUMPUR (July 14): The FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded from Wednesday's loss to end higher on Thursday (July 14), with the key index advancing by 0.62% driven by bargain hunting activities, a dealer said. However, on the broader market, losers surpassed gainers 454 to 332, while 421 counters were unchanged, 1,069 untraded and eight others suspended. At 5pm, the FBM KLCI rose 8.74 points to its intraday high of 1,420.06, versus Wednesday's close of 1,411.32. The benchmark index, which opened 2.49 points lower at its intraday low of 1,408.83, gained momentum in the mid-morning session and continued to rise until the final hour of trading day. Total turnover advanced to 2.01 billion units valued at RM1.20 billion, against 1.76 billion units valued at RM1.28 billion on Wednesday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that the FBM KLCI remained in an oversold position after heavy sell-downs over the past ...

Market Daily Report: FBM KLCI dips 1.04% to close at over 2-year low on July 13

KUALA LUMPUR (July 13): Bursa Malaysia ended in the red on Wednesday (July 13), with the key index declining by 1.04% amid heavy profit-taking in plantation and energy stocks, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 14.76 points to 1,411.32 from Tuesday's close of 1,426.08, marking its lowest level since May 18, 2020 which closed at 1,410.16. The benchmark index, which opened 4.65 points lower at 1,421.43 — its intraday high, dropped to a low of 1,410.33 in the morning session before gaining momentum but subsequently slipped during the afternoon trading. On the broader market, losers thumped gainers 578 to 249, while 420 counters were unchanged, 1,003 untraded, and eight others suspended. Total turnover fell to 1.76 billion units valued at RM1.28 billion, from 2.36 billion units valued at RM1.27 billion on Tuesday.  Malacca Securities Sdn Bhd senior analyst Kenneth Leong said investors are now keeping a close watch on the Unite...

Market Daily Report: Bursa ends mixed, late buying lifts KLCI to positive zone

KUALA LUMPUR (July 12): Last-minute buying interest in selected heavyweights led by utilities as well as consumer products and services stocks helped to lift the FTSE Bursa Malaysia KLCI (FBM KLCI) to end Tuesday's (July 12) session on a positive note, a dealer said. However, on the broader market, losers thumped gainers 569 to 292, while 357 counters were unchanged, 1,022 untraded, and eight others suspended. At 5pm, the FBM KLCI rose marginally by 0.29 of-a-point to 1,426.08 from Friday's close of 1,425.79. The benchmark index, which opened 0.4 of-a-point higher at its intraday high of 1,426.19, slipped to its low of 1,418.5 in late afternoon before clawing back into the positive territory. Total turnover advanced to 2.36 billion units valued at RM1.27 billion from Friday's close of 1.62 billion units valued at RM1.12 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said most key regional indices trended lower following t...

Market Daily Report: Strong buying interest lifts Bursa at close

KUALA LUMPUR (July 8): Bursa Malaysia ended higher on the week’s last day of trading amid strong buying interests across the regional markets. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 7.1 points, or 0.5%, to finish the day at 1,425.79 from Thursday's close of 1,418.69.   The benchmark index opened 2.57 points firmer at 1,421.26 and moved between 1,420.63 and 1,427.2 throughout the day. The overall market breadth was positive as gainers outnumbered losers 445 to 343, while 425 counters were unchanged, 1,027 untraded, and eight others suspended. Total turnover decreased to 1.62 billion units valued at RM1.12 billion from Thursday's closing of 1.94 billion units valued at RM1.45 billion. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices trended broadly higher following a rally in the US markets, sparked by hopes that policymakers can tackle inflation without causing a recession. Japan’s Nikkei 225 adde...

Market Daily Report: Cautious sentiment weighs on Bursa

  KUALA LUMPUR (July 7): Bursa Malaysia ended lower on Thursday (July 7) amidst the prevailing cautious sentiment in the market, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.16 points or 0.15% to end the day at 1,418.69 from Wednesday’s close of 1,420.85. The benchmark index opened 0.19 of-a-point higher at 1,421.04 and moved between 1,418.69 and 1,425.85 throughout the day. The overall market breadth was negative as losers outnumbered gainers 430 to 364, while 423 counters were unchanged, 1,007 untraded, and seven others suspended. Total turnover decreased to 1.94 billion units valued at RM1.45 billion from Wednesday’s 2.16 billion units valued at RM1.63 billion.     Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said Malaysian equities closed lower with selling mainly seen in the energy and industrial products stocks, while buying activities were mainly in the healthcare and plantation counters. H...

Market Daily Report: FBM KLCI falls to over two-year low

  KUALA LUMPUR (July 6): Bursa Malaysia ended Wednesday’s trading in the red amid heavy profit-taking in plantation and energy stocks. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 19.96 points or 1.39% to end the day at 1,420.85 from Tuesday’s close of 1,440.81, marking its lowest level since May 19, 2020. The benchmark index opened 1.76 points higher at 1,442.57 and moved between 1,419.5 and 1,448.09 throughout the day. The overall market breadth was negative amid broad selling as losers thumped gainers 717 to 208, while 388 counters were unchanged, 910 untraded, and seven others suspended. Total turnover increased to 2.16 billion units valued at RM1.63 billion from Tuesday’s 1.99 billion units valued at RM1.21 billion.    Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng expected investors' sentiment to remain jittery given the heightened global volatility, although bargain hunting may set in. “We foresee the FBM KLCI to st...

Market Daily Report: FBM KLCI ends slightly higher on bargain hunting

  KUALA LUMPUR (July 5): The FTSE Bursa Malaysia KLCI (FBM KLCI) ended marginally higher on Tuesday (July 5), lifted by bargain-hunting activities among undervalued stocks, said an analyst. At 5pm, the benchmark index rose 3.29 points to end the day at 1,440.81 from Monday’s close of 1,437.52. The benchmark index opened 4.35 points higher at 1,441.87, and moved between 1,435.58 and 1,444.67 throughout the day. The overall market breadth was negative with losers outnumbering gainers 423 to 373, while 438 counters were unchanged, 995 untraded and 14 others suspended. Total turnover increased to 1.99 billion units valued at RM1.21 billion from Monday’s 1.74 billion units valued at RM1.08 billion.   Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investors seemed to be reluctant to make more significant moves due to the absence of buying catalysts as the market undertone remains jittery amidst the heightened global market risks and volati...

Market Daily Report: Bursa ends at day's low as investors stay on sidelines

  KUALA LUMPUR (July 4): Bursa Malaysia ended the first trading day of the week broadly lower as investors stayed on the sidelines ahead of Bank Negara Malaysia's (BNM) decision on interest rates later this week. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 12.22 points or 0.84% to finish at its intraday low of 1,437.52 from Friday’s close of 1,449.74, after opening at an intraday high of 1,449.5. The overall market breadth was negative with losers outnumbering gainers 468 to 297, while 388 counters were unchanged, 1,076 untraded, and nine others suspended. Total turnover increased to 1.74 billion units valued at RM1.08 billion from Friday’s 1.49 billion units valued at RM1.15 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local bourse ended broadly lower on Monday after a lacklustre trading session as investors seemed reluctant to make more significant moves due to the absence of buying catalysts. “We remain caut...

Market Daily Report: Bursa ends week on mixed note, KLCI closes up 5.52 points

KUALA LUMPUR (July 1): Bursa Malaysia ended the week on a mixed note, supported by buying interest led by telecommunications stocks, while simultaneously tracking the heavy selloffs in regional peers, analysts said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.38% or 5.52 points higher to finish at 1,449.74 from Thursday's close of 1,444.22. The benchmark index, which opened 2.6 points easier at 1,441.62 to record its intraday low, hit a high of 1,452.32 during the mid-morning session on Friday. The overall market breadth was negative with losers outnumbering gainers 468 to 297, while 388 counters were unchanged, 1,076 untraded, and nine others suspended. Total turnover declined to 1.49 billion units valued at RM1.15 billion versus 2.26 billion units worth RM1.97 billion on Thursday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices closed lower following the broadly negative cues overnight from Wall Street. ...