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 (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 mostly trended higher following in sync with the upbeat Wall Street performance overnight.
"We expect the FBM KLCI to continue its uptrend in the near term.
"As such, we anticipate the benchmark index to move within the 1,460 to 1,480 range next week, with immediate resistance at 1,500 and support at 1,430," he told Bernama.
Among heavyweights, Malayan Banking Bhd gained 11 sen to RM8.81, Public Bank Bhd rose 13 sen to RM4.57, IHH Healthcare Bhd improved one sen to RM6.48, CIMB Group Holdings Bhd added nine sen to RM5.25, while Petronas Chemicals Group Bhd slipped 12 sen to RM8.60.
Of the actives, Bintai Kinden Corporation Bhd added half-a-sen to 11 sen, Cypark Resources Bhd gained one sen to 36.5 sen, TWL Holdings Bhd was 1.5 sen firmer at seven sen, while MY EG Services Bhd and Top Glove Corp Bhd eased half-a-sen each to 77 sen and 99.5 sen, respectively.
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 mostly trended higher following in sync with the upbeat Wall Street performance overnight.
"We expect the FBM KLCI to continue its uptrend in the near term.
"As such, we anticipate the benchmark index to move within the 1,460 to 1,480 range next week, with immediate resistance at 1,500 and support at 1,430," he told Bernama.
Among heavyweights, Malayan Banking Bhd gained 11 sen to RM8.81, Public Bank Bhd rose 13 sen to RM4.57, IHH Healthcare Bhd improved one sen to RM6.48, CIMB Group Holdings Bhd added nine sen to RM5.25, while Petronas Chemicals Group Bhd slipped 12 sen to RM8.60.
Of the actives, Bintai Kinden Corporation Bhd added half-a-sen to 11 sen, Cypark Resources Bhd gained one sen to 36.5 sen, TWL Holdings Bhd was 1.5 sen firmer at seven sen, while MY EG Services Bhd and Top Glove Corp Bhd eased half-a-sen each to 77 sen and 99.5 sen, respectively.
Source: The Edge
Comments
Post a Comment