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 (June 21): Bursa Malaysia rebounded to end on a firmer note on Wednesday (June 21), bucking the mainly negative regional trend, dealers said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.12 points, or 0.37% to 1,393.45 from 1,388.33 at Tuesday’s (June 20) close.
The FBM KLCI, which opened 2.6 points lower at 1,385.73 in the morning, moved between 1,383.88 and 1,395.85 throughout the session.
The broader market was positive as gainers surpassed decliners 422 to 415, while 436 counters were unchanged, 1,022 untraded and 18 others suspended.
Turnover increased to 3.06 billion units worth RM1.8 billion versus 2.85 billion units worth RM1.75 billion on Tuesday.
On the index board, the FBM Emas Index was 44.92 points better at 10,250.46, the FBMT 100 Index climbed 44.97 points to 9,951.46 and the FBM 70 Index advanced 96.53 points to 13,477.88.
However, the FBM ACE Index eased by 1.04 points to 5,088.02.
Sector-wise, the Energy Index added 3.89 points to 783.89, the Industrial Products and Services Index gained 1.25 points to 159.29 and the Financial Services Index bounced 158.78 points to 15,472.29.
The Plantation Index gave up 16 points to 6,724.37.
The Main Market volume expanded to 2.15 billion units valued at RM1.55 billion from 1.96 billion units worth RM1.54 billion on Tuesday.
Warrant turnover increased to 395.97 million units worth RM50.68 million against 361 million units worth RM50.26 million previously.
The ACE Market volume declined to 509.32 million shares valued at RM202.59 million from 512.56 million shares worth RM163.45 million yesterday.
Consumer products and services counters accounted for 358.16 million shares traded on the Main Market, industrial products and services (857.59 million); construction (50.58 million); technology (150.07 million); SPAC (nil); financial services (86.84 million); property (184.45 million); plantation (51.54 million); REITs (8.25 million), closed/fund (59,500); energy (208.39 million); healthcare (74.02 million); telecommunications and media (48.68 million); transportation and logistics (19.86 million); and utilities (49.73 million).
Source: The Edge
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