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 28): Bursa Malaysia ended the shortened trading week marginally lower on Friday (April 28), as investors sold financial services and plantation blue chips ahead of another shortened trading period next week, bucking the mainly positive regional trend.
Malaysia has public holidays next Monday for Labour Day, and next Thursday for Wesak Day.
At 5pm, the FBM KLCI had eased 2.10 points to 1,415.95, from Thursday’s close at 1,418.05.
The barometer index opened 0.19 of a point better at 1,418.24, and moved between 1,412.84 and 1,420.50 throughout the day.
Market breadth was negative, with decliners leading gainers 427 to 398, while 414 counters were unchanged, 1,040 untraded, and 50 others suspended.
Turnover rose to 2.64 billion units valued at RM1.48 billion, from 2.49 billion units valued at RM1.46 billion on Thursday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng told Bernama the KLCI closed marginally lower after a bumpy trading session.
“[However], key regional indices trended higher, following strong gains on Wall Street overnight on strong corporate earnings,” he noted.
Regionally, Japan's Nikkei rose 1.4% to 28,856.44, South Korea's Kospi gained 0.23% to 2,501.53, and Hong Kong’s Hang Seng bagged 0.27% to 19,894.57.
The Shanghai Composite Index of China increased 1.14% to 3,323.27.
Among the heavyweight counters at home, Malayan Banking Bhd (Maybank) erased four sen to RM8.66, and CIMB Group Holdings Bhd fell one sen to RM5.06, while Public Bank Bhd at RM3.89 and CelcomDigi Bhd at RM4.40 were both flat.
Petronas Chemicals Group Bhd rose four sen to RM7.08.
As for the actives, Jade Marvel Group Bhd was half a sen lower at 27.5 sen, Komarkcorp Bhd slid 2.5 sen to nine sen, while VinVest Capital Holdings Bhd inched up half a sen to 20.5 sen.
Velesto Energy Bhd at 23 sen and Bintai Kinden Corp Bhd at 3.5 sen were both flat.
On the index board, the FBM Emas Index erased 15.43 points to 10,396.39, the FBMT 100 Index deducted 14.51 points to 10,080.22, and the FBM Emas Shariah Index lost 12.19 points to 10,736.79.
The FBM ACE Index was 15.98 points higher at 5,368.38, while the FBM 70 index dropped 17.65 points to 13,522.58.
Sector-wise, the Industrial Products and Services Index inched up 0.59 of a point to 171.45, the Energy Index went up 0.03 of a point to 847.37, and the Financial Services Index fell 40.50 points to 15,519.53.
The Plantation Index was 38.29 points weaker at 6,817.38.
The Main Market volume increased to 1.78 billion units valued at RM1.25 billion, from 1.66 billion units valued at RM1.21 billion on Thursday.
Warrant turnover strengthened to 235.24 million units worth RM46.98 million, against 185.13 million units worth RM36.12 million previously.
The ACE Market volume dropped to 624.27 million shares worth RM183.73 million, versus 651.76 million shares worth RM206.91 million a day earlier.
Consumer products and services counters accounted for 275.84 million shares traded on the Main Market, followed by industrial products and services (629.28 million), construction (64.44 million), technology (187.51 million), special purpose acquisition companies (nil), financial services (54.13 million), property (255.41 million), plantation (17.65 million), real estate investment trusts (5.27 million), closed/funds (1,500), energy (114.59 million), healthcare (82.11 million), telecommunications and media (46.37 million), transportation and logistics (29.58 million), and utilities (20.63 million).
Source: The Edge
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