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 (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.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices are mostly in positive territory following positive global equities overnight.
As for the local bourse, he said the market is cautiously optimistic given the improvement in local market sentiment and the return of foreign funds.
“Nonetheless, investors should be wary of the increasing volatility of both regional and global equity markets.
“As such, we expect the FBM KLCI to continue its sideway pattern trending within the 1,470-1,490 range for the remainder of the week with immediate resistance at 1,500 and support at 1,460,” he said.
The US CPI data set for release on Tuesday will determine the Federal Reserve's decision for further monetary policy tightening.
Bursa Malaysia heavyweights Malayan Banking Bhd gained three sen to RM8.80, Petronas Chemicals Group Bhd added seven sen to RM8.15, and Tenaga Nasional Bhd rose two sen to RM9.93.
Both Public Bank Bhd was flat at RM4.19, and IHH Healthcare Bhd was unchanged at RM5.90.
As for active stocks, MyEG Services Bhd increased two sen to 62.5 sen, Hong Seng Consolidated Bhd went up one sen to 21 sen, Betamek Bhd was 5.5 sen higher at 59 sen, while Sapura Energy Bhd was down one sen to 4.5 sen, and Pesona Metro Holdings Bhd slipped one sen to 29 sen.
On the index board, the FBM Emas Index soared 53.99 points to 10,787.76, the FBMT 100 Index advanced 53.84 points to 10,457.41, and the FBM Emas Shariah Index perked up 90.61 points to 11,111.88. The FBM 70 Index added 34.71 points to 13,575.14, and the FBM ACE Index gained 16.31 points to 5,691.67.
Sector-wise, the Financial Services Index went up 5.54 points to 16,156.5, the Plantation Index widened 77.67 points to 6,916.54, and the Industrial Products and Services Index grew 1.53 points to 189.53. The Energy Index eased 1.31 points to 896.72.
The Main Market volume declined to 2.09 billion shares worth RM1.74 billion compared with Monday’s 2.11 billion shares worth RM1.65 billion.
Warrants turnover narrowed to 292.57 million units worth RM33.18 million from 414.75 million units worth RM53.41 million on Monday.
The ACE Market volume decreased to 813.03 million shares worth RM380.42 million from 1.17 billion shares worth RM338.11 million previously.
Consumer products and services counters accounted for 235.13 million shares traded on the Main Market, industrial products and services (420.94 million), construction (141.02 million), technology (700.94 million), SPAC (nil), financial services (54.28 million), property (127.04 million), plantation (32.99 million), REITs (8.41 million), closed/fund (23,100), energy (206.83 million), healthcare (71.19 million), telecommunications and media (30.76 million), transportation and logistics (52.56 million), and utilities (13.68 million).
Source: The Edge
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