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 (Dec 13): Bursa Malaysia ended in negative territory due to persistent selling in selected heavyweights led by plantation and telecommunication stocks, despite the upbeat mode on regional markets.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.26 points to 1,470.12 from Monday's closing of 1,474.38.
The barometer index, which opened 2.15 points higher at 1,476.53, moved between 1,469.47 and 1,477.29 in a choppy trading session throughout the day.
On the broader market, losers led gainers 482 versus 411, while 389
counters were unchanged, 980 untraded, and 10 others suspended.
Turnover expanded to 2.69 billion units worth RM1.84 billion versus 2.52 billion units worth RM1.52 billion on Monday.
SPI Asset Management managing partner Stephen Innes said Asian stocks relatively experienced a quiet trading on Tuesday as investors awaited the crucial US consumer price index data later and the US Federal Open Market Committee's (FOMC) decision on monetary policy on Wednesday.
"The big question for Bursa Malaysia investors is whether last month's positive US inflation surprise was an aberration or a true sign that peak inflation is behind us.
"The Federal Reserve can ease off the rate hikes sooner than later, which will pivot local stocks much higher," he told Bernama.
Bursa Malaysia heavyweights Malayan Banking Bhd (Maybank) perked up five sen to RM8.75, Public Bank Bhd eased one sen to RM4.39, Petronas Chemicals Group Bhd was flat at RM8.48, CIMB Group Holdings Bhd added two sen to RM5.76, and Tenaga Nasional Bhd (TNB) rose one sen to RM9.21.
Of the actives, market debutant ITMAX System Bhd advanced 31 sen to RM1.38, SNS Network Technology Bhd increased 2.5 sen to 25 sen, Dataprep Holdings Bhd shed four sen to 25.5 sen, AT Systematization Bhd was flat at 1.5 sen, and Advance Synergy Bhd slipped one sen to 17 sen.
On the index board, the FBM Emas Index shed 6.98 points to 10,579.54, the FBMT 100 Index slipped 5.98 points to 10,282.6, and the FBM Emas Shariah Index dipped 25.34 points to 10,707.81.
The FBM 70 Index increased 87.73 points to 13,006, and the FBM ACE Index went up 1.26 points to 5,494.9.
Sector-wise, the Financial Services Index was 32.3 points higher at 16,572.13, the Plantation Index declined 66.56 points to 6,685.93, the Industrial Products and Services Index slid 0.82 of-a-point to 180.61, while the Energy Index rose 6.26 points to 784.72.
The Main Market volume expanded to 1.55 billion shares worth RM1.49 billion from 1.40 billion shares worth RM1.18 billion on Monday.
Warrants turnover decreased to 284.18 million units valued at RM57.91 million versus Monday's 324.57 million units valued at RM60.57 million.
The ACE Market volume improved to 852.07 million shares worth RM290.35 million against 800.79 million shares worth RM273.9 million previously.
Consumer products and services counters accounted for 302.61 million shares traded on the Main Market, industrial products and services (373.19 million), construction (45.03 million), technology (309.62 million), SPAC (nil), financial services (64.32 million), property (120.74 million), plantation (24.38 million), REITs (3.69 million), closed/fund (8,000), energy (158.64 million), healthcare (72.35 million), telecommunications and media (28.64 million), transportation and logistics (33.45 million), and utilities (11.87 million).
Source: The Edge
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