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 4): Bursa Malaysia retreated from Monday's (April 3) gains to end marginally lower on Tuesday, dragged by profit-taking, particularly for large-cap stocks, a dealer said.
At 5pm, the FBM KLCI had declined 3.78 points to 1,429.61, from Monday's close at 1,433.39.
The barometer index opened 1.15 points lower at 1,432.24, and moved between 1,426.63 and 1,432.83 throughout the day.
Market breadth was negative, as decliners beat gainers 439 to 417,
while 402 counters were unchanged, 967 untraded, and 30 others
suspended.
Turnover fell to 2.62 billion units worth RM1.73 billion, from 3.38 billion units worth RM1.63 billion on Monday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said profit-taking emerged, following strong gains on Monday, and this was viewed as positive, allowing the market to digest the recent uptrend.
"We reckon the KLCI will trend higher within the range of 1,425-1,440 for the remainder of the week," he told Bernama.
Thong also noted that the key regional indices were mostly higher on Tuesday, while investors were closely monitoring the rising crude oil prices, which may cause inflation to escalate.
Among the heavyweights on the local bourse, Malayan Banking Bhd (Maybank) fell one sen to RM8.66 a share, Public Bank Bhd was unchanged at RM4, Petronas Chemicals Group Bhd at RM7.22 and Tenaga Nasional Bhd at RM9.25 had risen one sen each, and CIMB Group Holdings Bhd gained three sen to RM5.33.
As for the actives, Fitters Diversified Bhd at eight sen and VinVest Capital Holdings Bhd at 20.5 sen were both unchanged, Reach Energy Bhd fell two sen to 5.5 sen, Pesona Metro Holdings Bhd trimmed 1.5 sen to 23 sen, and Computer Forms (Malaysia) Bhd shed half a sen to 22.5 sen.
On the index board, the FBM Emas Index dropped 8.82 points to 10,492.64, the FBMT 100 Index slipped 13.25 points to 10,176.0, and the FBM Emas Shariah Index slid 17.06 points to 10,794.61.
The FBM 70 Index went up 38.72 points to 13,644.88, and the FBM ACE Index was 17.81 points higher at 5,329.93.
Sector-wise, the Financial Services Index gave up 20.59 points to 15,779.50, the Industrial Products and Services Index inched up 0.10 of a point to 173.16, the Plantation Index shaved off 71.66 points to 6,707.58, and the Energy Index advanced 9.94 points to 875.70.
The Main Market volume decreased to 1.87 billion units worth RM1.49 billion, against 2.33 billion shares worth RM1.38 billion on Monday.
Warrant turnover improved to 245.32 million units worth RM46.46 million, versus 239.97 million units worth RM40 million previously.
The ACE Market volume dwindled to 507.12 million shares worth RM194.12 million, from 806.14 million shares worth RM212.17 million on Monday.
Consumer products and services counters accounted for 268.28 million shares traded on the Main Market, followed by industrial products and services (533.19 million), construction (133.04 million), technology (19.84 million), special purpose acquisition companies (nil), financial services (54.53 million), property (183.11 million), plantation (25.48 million), real estate investment trusts (7.5 million), closed/funds (nil), energy (294.03 million), healthcare (102.17 million), telecommunications and media (42.48 million), transportation and logistics (20.41 million), and utilities (38.83 million).
Source: The Edge
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