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 27): Bursa Malaysia ended higher on Thursday (April 27), with the key index rising 0.27%, due to bargain hunting for banking and gaming stocks, an analyst said.
At 5pm, the FBM KLCI had risen 3.80 points to 1,418.05, from Wednesday’s close at 1,414.25.
The barometer index opened 2.19 points better at 1,416.44, and moved between 1,413.46 and 1,418.17 throughout the day.
However, market breadth was negative, with decliners leading gainers 417 to 388, while 414 counters were unchanged, 1,075 untraded, and 65 others suspended.
Turnover fell to 2.49 billion units valued at RM1.46 billion, from 2.55 billion units valued at RM1.54 billion on Wednesday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices were also in positive territory, as investors were positive on Chinese President Xi Jinping's phone call with Ukraine leader Volodymyr Zelensky, and China’s plan to send a delegation to Ukraine for a possible peace deal.
Meanwhile, Bank of Japan governor Kazuo Ueda was expected to maintain the ultra loose monetary policy, Thong noted.
“Back home, we believe the market undertone remains cautious, due to various external factors, although bargain-hunting activities may continue.
“Hence, we anticipate the KLCI to trend within the 1,410-1,420 range towards the weekend, with immediate support at 1,400 and resistance at 1,440,” he told Bernama.
Among the heavyweights, Malayan Banking Bhd (Maybank) jumped nine sen to RM8.70 a share and CIMB Group Holdings Bhd rose two sen to RM5.07, while Public Bank Bhd at RM3.89 and CelcomDigi Bhd at RM4.40 were both flat. Petronas Chemicals Group Bhd slipped 11 sen to RM7.04.
As for the actives, Classita Holdings Bhd gained two sen to 18 sen, Tanco Holdings Bhd bagged 5.5 sen to 53.5 sen, Computer Forms (Malaysia) Bhd added one sen to 28 sen, and Velesto Energy Bhd was one sen higher at 23 sen.
On the index board, the FBM Emas Index increased 19.74 points to 10,411.82, the FBMT 100 Index rose 17.05 points to 10,094.73, the FBM Emas Shariah Index fell 1.78 points to 10,748.98, the FBM ACE Index was 1.74 points better at 5,352.40, and the FBM 70 Index dropped 18.48 points to 13,540.23.
Sector-wise, the Industrial Products and Services Index shaved 0.62 of a point to 170.86, and the Plantation Index ticked down 28.79 points to 6,855.67, while the Energy Index rose 3.84 points to 847.34, and the Financial Services Index climbed 67.99 points to 15,560.03.
The Main Market volume decreased to 1.66 billion units valued at RM1.21 billion, from 1.73 billion units valued at RM1.43 billion on Wednesday.
Warrant turnover fell to 185.13 million units worth RM36.12 million, against 301.54 million units worth RM56.14 million previously.
The ACE Market volume strengthened to 651.76 million shares worth RM206.91 million, versus 517.42 million shares worth RM170.95 million a day earlier.
Consumer products and services counters accounted for 295.47 million shares traded on the Main Market, followed by industrial products and services (412.74 million), construction (74.50 million), technology (184.94 million), special purpose acquisition companies (nil), financial services (51.55 million), property (286.00 million), plantation (18.51 million), real estate investment trusts (7.54 million), closed/funds (3,600), energy (86.46 million), healthcare (93.70 million), telecommunications and media (66.55 million), transportation and logistics (49.70 million), and utilities (33.99 million).
Source: The Edge
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