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 16): Bursa Malaysia ended the week in positive territory, after late buying of selected plantation heavyweights lifted the benchmark index by 0.78%, despite volatility in regional markets.
At 5pm on Friday (Dec 16), the FBM KLCI had risen by 11.41 points to 1,478.54, from Thursday's closing at 1,467.13.
The barometer index opened 5.37 points lower at 1,461.76, and went down to 1,459.31 in the morning session, before climbing up to its intraday high of 1,478.54 in the final hours of trading.
However, on the broader market, decliners edged advancers 488 versus 409, while 414 counters were unchanged, 963 untraded, and 48 others suspended.
Turnover improved to 3.33 billion units worth RM2.24 billion versus 2.54 billion units worth RM1.91 billion on Thursday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices ended mostly in downbeat mode, following broadly negative cues from global markets overnight.
Among the heavyweights, Malayan Banking Bhd (Maybank) gained two sen to RM8.72 a share, Public Bank Bhd stayed flat at RM4.38, Petronas Chemicals Group Bhd rose five sen to RM8.51, CIMB Group Holdings Bhd earned three sen to RM5.78, Sime Darby Plantation Bhd jumped 42 sen to RM4.77, and Tenaga Nasional Bhd (TNB) lost six sen to RM9.15.
Among the actives, Advance Synergy Bhd ticked up three sen to 22 sen, Borneo Oil Bhd was flat at 2.5 sen and Malayan United Industries Bhd was unchanged at 8.5 sen, Dagang NeXchange Bhd (DNeX) added half a sen to 52.5 sen, and Sapura Energy Bhd was down half a sen to four sen.
On the index board, the FBM Emas Index appreciated by 56.31 points to 10,607.21, the FBMT 100 Index advanced 61.38 points to 10,312.29, and the FBM Emas Shariah Index was 78.64 points higher at 10,748.42.
The FBM 70 Index earned 3.99 points to 12,926.66, while the FBM ACE Index eased 9.65 points to 5,461.94.
Sector-wise, the Financial Services Index strengthened by 28.0 points to 16,563.50, the Plantation Index surged 333.52 points to 7,037.93, the Industrial Products and Services Index added 0.24 of a point to 181.26, and the Energy Index gave up 3.29 points to 791.31.
The Main Market volume rose to 2.29 billion shares worth RM1.91 billion, against 1.57 billion shares worth RM1.55 billion on Thursday.
Warrant turnover increased to 306.58 million units valued at RM72.03 million, versus 283.83 million units valued at RM59.64 million.
The ACE Market volume improved to 730.46 million shares worth RM258.38 million, compared to 676.83 million shares worth RM299.49 million previously.
Consumer product and service counters accounted for 633.47 million shares traded on the Main Market, followed by industrial products and services (685.27 million), construction (54.55 million), technology (285.56 million), special purpose acquisition companies (nil), financial services (79.61 million), property (76.73 million), plantation (34.64 million), real estate investment trusts (4.74 million), closed/funds (5,100), energy (204.34 million), healthcare (107.02 million), telecommunications and media (68.02 million), transportation and logistics (37.33 million), and utilities (18.80 million).
Source: The Edge
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