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 (Nov 14): Bursa Malaysia ended lower on Monday (Nov 14) on profit-taking activities amid mixed sentiment across the region, a dealer said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.21 points, or 0.29%, to end at 1,464 compared to last Friday’s close of 1,468.21.
The market bellwether opened 0.78 points better at 1,468.99, its intraday high, and hit a low of 1,459.05 in the early morning session.
On the broader market, losers led gainers 445 to 431, while 393 counters were unchanged, 1,056 untraded, and 13 others suspended.
Turnover eased to 2.80 billion units valued at RM1.57 billion versus 3.43 billion units valued at RM2.42 billion last Friday.
Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional indices ended mixed despite the broadly positive cues from Wall Street last Friday as investors took profit following the strong gains in the previous session.
"On the domestic front, we are positive on the return of foreign funds into the region which may boost investor sentiment.
"We expect the market uptrend to resume and anticipate the FBM KLCI to trend within the 1,450 to 1,480 range for the week with immediate resistance at 1,470 and support at 1,420," he told Bernama.
Meanwhile, Bursa Malaysia heavyweights Malayan Banking Bhd (Maybank) slipped one sen to RM8.59, IHH Healthcare Bhd fell one sen to RM5.99, and Petronas Chemicals Group Bhd declined one sen to RM8.72. Public Bank Bhd slid seven sen to RM4.38, and CIMB Group Holdings Bhd dipped three sen to RM5.49.
Among the actives, Advance Synergy Bhd eased half-a-sen to 14 sen, while both Techna-X Bhd and G3 Global Bhd shed half-a-sen to three sen. Top Glove Corp Bhd rose six sen to RM1.02, and Icon Offshore Bhd gained one sen to 14.5 sen.
On the index board, the FBM Emas Shariah Index declined 9.2 points to 10,520.38, the FBM Emas Index shrank 21.73 points to 10,395.17, the FBMT 100 Index narrowed 23.6 points to 10,127.99, the FBM ACE fell 83.28 points to 5,010.03, and the FBM 70 eased 6.55 points to 12,365.47.
Sector-wise, the Financial Services Index declined 64.31 points to 16,288.92, the Plantation Index shed 0.37 of-a-point to 6,902.36, the Industrial Products and Services Index inched down 0.26 of-a-point to 179.14, and the Energy Index climbed 7.43 points to 731.75.
The Main Market volume decreased to 1.85 billion shares worth RM1.31 billion from 2.09 billion shares worth RM2.05 billion on Friday.
Warrants turnover dwindled to 427.98 million units valued at RM82.36 million from 562.32 million units valued at RM111.49 million.
The ACE Market volume tumbled to 519.7 million shares worth RM171.71 million from 780.17 million shares worth RM262.79 million previously.
Consumer products and services counters accounted for 586.45 million shares traded on the Main Market, industrial products and services (356.33 million); construction (67.81 million); technology (96.11 million); SPAC (nil), financial services (46.23 million); property (165.4 million); plantation (18.9 million); REITs (3.93 million), closed/fund (10,700); energy (230.28 million); healthcare (226.81 million); telecommunications and media (17.8 million); transportation and logistics (25.07 million); and utilities (7.5 million).
Source: The Edge
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