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 (April 18): Bursa Malaysia closed in negative territory in tandem with the weak regional performance on Tuesday (April 18), with key regional indices ending mostly lower as investors were cautious ahead of the earnings season, an analyst said.
At 5pm, the FBM KLCI was 0.18% or 2.54 points easier at 1,432.36, from Monday's close at 1,434.90.
The benchmark index opened 0.57 of a point higher at 1,435.47, and moved between 1,429.59 and 1,435.47 throughout the day.
Market breadth was broadly negative, as decliners outpaced gainers
527 to 330, while 390 counters were unchanged, 1,033 untraded, and
12 others suspended.
Turnover narrowed to 3.17 billion units worth RM1.85 billion, from 3.25 billion units valued at RM1.89 billion on Monday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said China’s equities, however, closed higher after the country released better-than-expected economic data.
The world’s second-largest economy grew 4.5% year-on-year in the first quarter, beating most economists’ expectations.
“As for the local bourse, we believe today's (Tuesday) selldown provides an opportunity for investors to accumulate at a lower level.
“We expect the outlook for the local equity market to remain positive due to undemanding valuations and improving economic conditions,” he told Bernama.
As such, Thong reckons bargain hunting would emerge anytime soon, and foresees the KLCI to trend within the range of 1,430-1,445 for the remainder of the week.
Of the heavyweights, Malayan Banking Bhd (Maybank) at RM8.70 a share, Petronas Chemicals Group Bhd at RM7.40, and IHH Healthcare Bhd at RM5.88 were all flat. Public Bank Bhd added one sen to RM3.98, while CIMB Group Holdings Bhd was down by one sen to RM5.25, Tenaga Nasional Bhd lost 18 sen to RM9.00, and CelcomDigi Bhd gained five sen to RM4.46.
Among the actives, Dataprep Holdings Bhd at 22 sen and Hong Seng Consolidated Bhd at 13 sen had fallen one sen each, SMRT Holdings Bhd rose one sen to 65.5 sen, and Computer Forms (Malaysia) Bhd added 1.5 sen to 24.5 sen, while Jade Marvel Group Bhd was flat at 30 sen.
On the index board, the FBM Emas Index weakened 23.27 points to 10,540.48, the FBMT 100 Index lost 21.17 points to 10,222.20, and the FBM Emas Shariah Index slipped 34.27 points to 10,889.89.
The FBM ACE Index was 20.39 points higher at 5,389.71, and the FBM 70 index slid 41.22 points to 13,817.07.
Sector-wise, the Industrial Products and Services Index eased by 0.77 of a point to 174.39, while the Plantation Index gained 64.64 points to 6,884.64.
The Financial Services Index declined 34.12 points to 15,731.47, and the Energy Index fell 11.00 points to 867.19.
The Main Market volume narrowed to 2.08 billion units valued at RM1.51 billion, from 2.13 billion units worth RM1.55 billion on Monday.
Warrant turnover dropped to 277.52 million units worth RM45.34 million, against 403.87 million units valued at RM66.38 million previously.
The ACE Market volume widened to 804.49 million shares worth RM288.37 million, versus 712.71 million shares worth RM273.92 million.
Consumer products and services counters accounted for 281.25 million shares traded on the Main Market, followed by industrial products and services (539.97 million), construction (62.04 million), technology (485.45 million), special purpose acquisition companies (nil), financial services (50.01 million), property (177.77 million), plantation (25.53 million), real estate investment trusts (7.06 million), closed/funds (27,000), energy (73.30 million), healthcare (152.12 million), telecommunications and media (113.76 million), transportation and logistics (48.89 million), and utilities (70.07 million).
Source: The Edge
Comments
Post a Comment