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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 lower, US and Chinese PMI data in focus

KUALA LUMPUR (Feb 28): Bursa Malaysia ended the last trading day of February with a paltry loss, after the key index swung between gains and losses, as investors seemed to trade cautiously ahead of the release of the purchasing managers indices (PMIs) in the US and China. At 5pm on Tuesday (Feb 28), the benchmark FBM KLCI had fallen 1.31 points to 1,454.19, from Monday’s closing at 1,455.50.  The index opened 0.99 of a point higher at 1,456.49, and moved between 1,452.43 and 1,458.97 throughout the day. Market breadth was negative, with decliners thumping advancers 739 to 255, while 307 counters were unchanged, 946 untraded, and 55 others suspended. Turnover, however, soared to 4.63 billion units worth RM3.95 billion, from Monday's 3.09 billion units worth RM2.19 billion.  

Market Daily Report: KLCI ends slightly lower amid downbeat market tone

KUALA LUMPUR (Feb 27): Bursa Malaysia ended a choppy session slightly lower on Monday (Feb 27), as a rally in banking stocks helped to offset losses in the barometer index, amid the downbeat performance of regional peers. At 5pm, the benchmark FBM KLCI had lost 1.30 points to 1,455.50, from last Friday’s closing at 1,456.80. The index opened 0.76 of a point lower at 1,456.04, and moved in a tight range between 1,447.55 and 1,458.18. Market breadth remained negative, with decliners leading advancers 532 to 338, while 425 counters were unchanged, 946 untraded, and 70 others suspended. Turnover decreased to 3.09 billion units worth RM2.19 billion, from last Friday's 3.43 billion units worth RM2.58 billion.   Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional equities were also lower on negative cues from Wall Street last Friday, as concerns about inflation heightened following the release of a higher-than-expected US ...

Market Daily Report: Bursa Malaysia ends almost flat on Friday

KUALA LUMPUR (Feb 24): Bursa Malaysia ended the trading week almost flat on weak sentiment, in line with most regional peers, despite the upbeat Wall Street performance overnight, said an analyst.  At 5pm on Friday (Feb 24), the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.85 of-a-point or 0.06% to end at 1,456.80, from Thursday’s close of 1,457.65.  The index opened 1.01 points firmer at 1,458.66 and moved between 1,448.09 and 1,460.19 throughout the trading day.  On the broader market, decliners led advancers 537 to 419, while 386 counters were unchanged, 893 untraded and 28 others suspended. Turnover increased to 3.43 billion units worth RM2.58 billion, from Thursday’s 3.33 billion units worth RM2.25 billion.  Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that the benchmark index was dragged down by Petronas Chemicals Group Bhd (PetChem), which r...

Market Daily Report: Bursa ends lower ahead of Budget 2023 announcement

KUALA LUMPUR (Feb 23): Bursa Malaysia ended lower on Thursday (Feb 23), amid cautious market sentiment, ahead of the retabling of Budget 2023 on Friday.  At 5pm, the benchmark FBM KLCI had fallen by 6.35 points or 0.43% to end at 1,457.65, from Wednesday's close at 1,464.0. The index opened 0.58 of a point firmer at 1,464.58, and moved between 1,456.30 and 1,467.63 throughout the trading day.  On the broader market, advancers outpaced decliners 479 to 408, while 421 counters were unchanged, 927 untraded, and 12 others suspended. Turnover decreased to 3.33 billion units worth RM2.25 billion, from Wednesday's 3.51 billion units worth RM2.07 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that the selldown over the past few days would provide sufficient upside for investors, as the valuation of the benchmark index becomes more attra...

Market Daily Report: Bursa ends lower in lacklustre trading

KUALA LUMPUR (Feb 22): Bursa Malaysia ended lower on Wednesday (Feb 22) amid lacklustre trading, in line with the downbeat performance in regional markets.  At 5pm, the benchmark FBM KLCI had fallen 10.01 points or 0.68% to end at 1,464.0, compared with Tuesday's close at 1,474.01. The key index opened 1.52 points easier at 1,472.49, and moved between 1,462.60 and 1,473.23 throughout the trading day.  On the broader market, decliners outpaced advancers 654 to 273, while 378 counters were unchanged, 918 untraded, and 11 others suspended. Turnover increased to 3.51 billion units worth RM2.07 billion, from Tuesday's 3.38 billion units worth RM1.85 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the weak regional sentiment followed negative cues from the Wall Street performance overnight, as higher interest rates continued to pressure market sentiment, a...

Market Daily Report: Bursa ends marginally higher as investors stay on sidelines ahead of Budget 2023

KUALA LUMPUR (Feb 21): Bursa Malaysia ended marginally higher on Tuesday (Feb 21), as investors stayed on the sidelines, ahead of the retabling of Budget 2023 on Friday.    At 5pm, the benchmark FBM KLCI had inched up 0.55 of a point or 0.04% to end at 1,474.01, compared with Monday's close at 1,473.46.  The key index opened 0.65 of a point higher at 1,474.11, and moved between 1,471.85 and 1,477.36 throughout the trading day.  On the broader market, decliners outpaced gainers 621 to 316, while 382 counters were unchanged, 905 untraded, and 11 others suspended. Turnover increased to 3.38 billion units worth RM1.85 billion, from Monday's 3.14 billion units worth RM2.14 billion.   A dealer said trading on the local bourse was lacklustre while investors waited for the retabling of Budget 2023 on Friday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak ...

Market Daily Report: Bursa ends lower amid global selldown

KUALA LUMPUR (Feb 17): Bursa Malaysia ended lower on Friday (Feb 17), joining the global selldown of equities, as the US interest rate outlook strengthens. At 5pm, the benchmark FBM KLCI had shed 7.36 points, or 0.5%, to end at 1,476.90, compared with Thursday's close at 1,484.26. The key index opened 0.23 of a point lower at 1,484.03, and moved between 1,473.15 and 1,484.76 throughout the trading day.  On the broader market, decliners led gainers 627 to 282, while 414 counters were unchanged, 902 untraded, and 36 others suspended. Turnover decreased to 3.27 billion units worth RM2.10 billion, against Thursday's 4.56 billion units worth RM2.55 billion.

Market Daily Report: Bursa erases earlier gains to end lower

KUALA LUMPUR (Feb 16): Bursa Malaysia erased earlier gains to end lower on Thursday (Feb 16) due to profit-taking on a lack of fresh catalysts, as investors remained cautious amid the mixed performance of regional and global equity markets, a dealer said. At 5pm, the benchmark FBM KLCI had dipped 3.93 points to end at 1,484.26, compared with Wednesday's close at 1,488.19. The key index opened 0.35 of a point weaker at 1,487.84, and moved between 1,483.54 and 1,494.54 throughout the trading day.  However, market breadth was positive, as advancers led decliners 527 to 403, while 410 counters were unchanged, 873 untraded, and 16 others suspended.

Market Daily Report: Late buying lifts KLCI to end at intraday high

KUALA LUMPUR (Feb 15): The FBM KLCI reversed earlier losses to end in positive territory on bargain-hunting during the late trading session amid the mixed performance of regional peers. At 5pm on Wednesday (Feb 15), the benchmark index settled 4.22 points higher to end at an intraday high of 1,488.19, compared with Tuesday's close at 1,483.97. The key index opened 1.17 points weaker at 1,482.80, and hit a low of 1,478.31 before the midday break. However, market breadth remained negative, as decliners led advancers 450 to 433, while 407 counters were unchanged, 923 untraded, and nine others suspended. Turnover increased to 3.49 billion units worth RM2.02 billion, against Tuesday's 3.20 billion units worth RM2.16 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that the key regional indices were mostly downbeat, following the negative cue from Wall ...

Market Daily Report: Bursa ends higher in line with regional peers

KUALA LUMPUR (Feb 14): The FTSE Bursa Malaysia KLCI (FBM KLCI) ended higher in tandem with the positive performance of regional bourses as investors look to the January US consumer price index (CPI) for clues to the interest-rate path. At 5pm, the benchmark FBM KLCI went up 8.8 points to 1,483.97 compared with Monday's close of 1,475.17. The market bellwether opened 1.96 points better at 1,477.13 and moved between 1,476.06 and 1,485.58 throughout the session. However, the market breadth remained negative as decliners led gainers 430 to 428, while 441 counters were unchanged, 888 untraded and nine others suspended. Turnover decreased to 3.20 billion units worth RM2.16 billion against Monday's 3.69 billion units worth RM2.05 billion.

Market Daily Report: Bursa erases early losses to end at intraday high on late buying

KUALA LUMPUR (Feb 13): The FTSE Bursa Malaysia KLCI (FBM KLCI) erased earlier losses to finish marginally higher as bargain hunting emerged during late trading, amid the mixed performance by regional peers. At 5pm, the benchmark FBM KLCI went up 0.58 of-a-point to end at an intraday high of 1,475.17 compared with last Friday's close of 1,474.59. The key index opened 0.13 points better at 1,474.72 and hit a low of 1,469.26 before the midday break.

Market Daily Report: Bursa Malaysia snaps three-day losing streak on better-than-expected 2022 GDP

KUALA LUMPUR (Feb 10): The FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded on Friday (Feb 10), snapping a three-day losing streak and bucking the regional trend as market participants cheered the slightly better-than-expected 2022 gross domestic product (GDP) data, a dealer said.  At 5pm, the benchmark FBM KLCI gained 9.95 points or 0.68% to 1,474.59, compared with Thursday’s close of 1,464.64.  The key index opened 0.41 points better at 1,465.05 and moved between 1,463.31 to 1,476.03 throughout the session.  However, the market breadth was negative as decliners thumped gainers 540 to 403, while 403 counters were unchanged, 828 untraded and 18 others suspended. Turnover increased to 4.08 billion units worth RM2.5 billion, against Thursday’s 3.57 billion units worth RM2.19 billion.   Malaysia’s economic growth jumped to a 22-year record high of 8.7% in 2022, against 3.1% in the previous year.

Market Daily Report: Bursa ends lower on lack of fresh catalysts

KUALA LUMPUR (Feb 9): The FTSE Bursa Malaysia KLCI (FBM KLCI) ended lower for a third consecutive day on the lack of fresh catalysts as investors remain cautious amid the jittery performance of regional and global equity markets, a dealer said. At 5pm, the benchmark FBM KLCI fell 6.11 points or 0.42% to 1,464.64 compared with Wednesday's close of 1,470.75. The key index opened 0.55 points higher at 1,471.3 and hit a low of 1,463.75 during the mid-morning session. The market breadth was negative as losers thumped gainers 522 to 365, while 426 counters were unchanged, 861 untraded and 22 others suspended. Turnover declined to 3.57 billion units worth RM2.19 billion against Wednesday's 3.94 billion units worth RM2.51 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional indices ended mixed as investors assessed further risks of more rate hikes to come after a number of US Federal Reserve (Fed) speakers reiterated that t...

Market Daily Report: Bursa ends lower for second day running

KUALA LUMPUR (Feb 8): The FTSE Bursa Malaysia KLCI (FBM KLCI) extended its decline for a second consecutive day, dragged by selling pressure mainly in banking and telecommunication stocks, amid mixed sentiments in regional bourses, a dealer said. At 5pm, the benchmark FBM KLCI fell 5.63 points or 0.38% to 1,470.75 compared with Tuesday's close of 1,476.38. The key index opened flat at 1,476.39 and moved between 1,469.01 and 1,479.95 throughout the session. The market breadth was negative as losers thumped gainers 566 to 371, while 403 counters were unchanged, 834 untraded and nine others suspended. Turnover dwindled to 3.94 billion units worth RM2.51 billion against Tuesday's 5.24 billion units worth RM3.03 billion. The financial services index dipped 1.12% or 180.77 points to 15,954.56. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the weakness in banking heavyweights came about as certain economists pointed out that the monetary tightening by ...

Market Daily Report: Bursa closes lower on renewed volatility

KUALA LUMPUR (Feb 7): The FTSE Bursa Malaysia KLCI (FBM KLCI) closed broadly lower on renewed volatility as sentiment turned wary over the rising bond yield. At 5pm, the benchmark FBM KLCI went down by 14.09 points or 0.95% to 1,476.38 compared with last Friday's close of 1,490.47. The benchmark index opened 2.65 points lower at 1,487.82 and moved between 1,471.79 and 1,487.99 throughout the session. The market breadth was negative with losers leading gainers 730 to 302, while 359 counters were unchanged, 795 untraded and 21 others suspended. Turnover swelled to 5.24 billion units worth RM3.03 billion against last Friday's 4.36 billion units worth RM2.41 billion. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the market bellwether was under pressure on concerns that global interest rates may continue to climb higher in the first half of 2023 as inflation data across the globe remained at elevated levels. "Looking ahead, we reckon that further pr...

Market Daily Report: Bursa ends marginally higher on last-minute buying

KUALA LUMPUR (Feb 3): The FTSE Bursa Malaysia KLCI (FBM KLCI) reversed earlier losses and finished in positive territory, reaching the 1,490 level due to last-minute buying on heavyweights amid mixed performance by its regional peers. At 5pm, the benchmark FBM KLCI went up 0.67 of-a-point to 1,490.47 compared with Thursday's close of 1,489.8. The benchmark index opened 0.76 of-a-point firmer at 1,490.56 and moved between 1,485.25 and 1,493.34 throughout the session. However, market breadth was negative with losers leading gainers 510 to 443, while 388 counters were unchanged, 829 untraded and 20 others suspended. Turnover narrowed to 4.36 billion units worth RM2.41 billion against Thursday's 5.14 billion units worth RM2.95 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said that on the domestic front, the FBM KLCI was stuck in a consolidation mode as investors seemed reluctant to make significant moves due to the uncertainty of the...

Market Daily Report: Bursa ends higher amid cautious regional sentiment

KUALA LUMPUR (Feb 2): Shares on Bursa Malaysia finished the first trading day of February in positive territory, as bargain-hunting emerged following the selldown on Tuesday (Jan 31), despite the cautious market undertone in the region, a dealer said. At 5pm on Thursday, the benchmark FBM KLCI had risen 4.30 points to 1,489.80, from Tuesday's close at 1,485.50. The key index opened 3.32 points stronger at 1,488.82, and moved between 1,485.90 and 1,493.21 throughout the day. Market breadth was positive, with gainers leading losers 681 to 341, while 371 counters were unchanged, 780 untraded, and 11 others suspended. Turnover expanded to 5.14 billion units worth RM2.95 billion, against Tuesday's 4.03 billion units worth RM2.78 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said that despite the cautious market undertone in the region, buying in the local market is expected to continue, given the chea...