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 3): Bursa Malaysia ended higher on Monday (April 3), driven by bargain hunting amid improved sentiment across the board, with the key composite index closing at an intraday high.
At 5pm, the FBM KLCI had gained 10.80 points to 1,433.39, from last Friday's close at 1,422.59.
The main index opened 4.18 points higher at 1,426.77, and moved in uptrend mode to 1,433.39 at the close.
Market breadth was positive, as gainers thumped decliners at 592 to
312, while 388 counters were unchanged, 934 untraded, and 32 others
suspended.
Turnover widened to 3.38 billion units worth RM1.63 billion, versus 3.27 billion units worth RM1.76 billion last Friday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices ended mostly higher with accumulation of technology stocks, while investors closely monitored a slew of central bank meetings and economic readings around the globe.
On the home front, he said, the return of foreign buying will boost investors' confidence and market sentiment.
“We believe the market undertone will remain steady on the domestic front, and we expect the index to stay positive going forward,” he said in a note.
Among Bursa’s heavyweight counters, Malayan Banking Bhd (Maybank) gained 10 sen to RM8.67, Public Bank Bhd was unchanged at RM4.00, Petronas Chemicals Group Bhd rose 14 sen to RM7.21, Tenaga Nasional Bhd added one sen to RM9.24, while CIMB Group Holdings Bhd lost one sen to RM5.30.
As for the actives, VinVest Capital Holdings Bhd at 20.5 sen and Zen Tech International Bhd at 2.5 sen had increased half a sen each, Velesto Energy Bhd ticked up one sen to 22 sen, Computer Forms (Malaysia) Bhd gained 1.5 sen to 23 sen, and MMAG Holdings Bhd stayed flat at two sen.
Top gainers were Harrisons Holdings (M) Bhd, which improved 49 sen to RM9.25, Hong Leong Financial Group Bhd, which strengthened 40 sen to RM18.38, and Nestlé (Malaysia) Bhd, which gained 30 sen to RM137.40.
On the index board, the FBM Emas Index increased 81.83 points to 10,501.46, the FBMT 100 Index improved 75.22 points to 10,189.25, and the FBM Emas Shariah Index advanced 95.25 points to 10,811.68.
The FBM 70 Index went up 93.78 points to 13,606.16, and the FBM ACE Index was 85.32 points better at 5,312.12.
Sector-wise, the Financial Services Index grew 91.39 points to 15,800.09, the Industrial Products and Services Index inched up 1.98 points to 173.06, the Plantation Index firmed up 37.96 points to 6,779.24, and the Energy Index advanced 28.95 points to 865.76.
The Main Market volume widened to 2.33 billion shares worth RM1.38 billion, against 1.94 billion shares worth RM1.46 billion last Friday.
Warrant turnover narrowed to 239.97 million units worth RM40 million, from 417.71 million units worth RM77.22 million previously.
The ACE Market volume slid to 806.14 million shares worth RM212.17 million, versus 909.05 million shares worth RM223.97 million last week.
Consumer products and services counters accounted for 281.16 million shares traded on the Main Market, followed by industrial products and services (992.89 million), construction (115.54 million), technology (197.18 million), special purpose acquisition companies (nil), financial services (45.63 million), property (177.35 million), plantation (32.48 million), real estate investment trusts (8.8 million), closed/funds (19,400), energy (239.13 million), healthcare (114.63 million), telecommunications and media (33.66 million), transportation and logistics (42.66 million), and utilities (52.78 million).
Source: The Edge
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