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 16): Late buying lifted Bursa Malaysia to end at its intraday high on Friday (June 16), in sync with the upbeat performance of regional bourses, as market sentiment turned positive, fuelling investors' risk appetite.
At 5pm, the FBM KLCI had risen 6.88 points, or 0.50%, to end at 1,388.61, from 1,381.73 at Thursday’s close.
The barometer index opened 0.69 of a point firmer at 1,382.42 on Friday morning, and thereafter hit an intraday low of 1,373.15 during the mid-morning session.
However, market breadth was negative, as decliners outpaced gainers 451 to 397, while 462 counters were unchanged, 974 untraded, and 25 others suspended.
Turnover increased to 3.54 billion units worth RM3.25 billion, versus 3.48 billion units worth RM1.80 billion on Thursday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional indices trended mostly higher, following a positive cue from Wall Street overnight, except for the Indonesia Stock Exchange, which fell 0.23% to 6,698.55.
“Additionally, investor sentiment has improved, over expectations that the US Federal Reserve is near the end of its rate-hike campaign,” he told Bernama.
Among the heavyweights, Public Bank Bhd rose two sen to RM3.87, Tenaga Nasional Bhd was nine sen higher to RM9.20, IHH Healthcare Bhd improved 16 sen to RM5.96, while Malayan Banking Bhd (Maybank) eased three sen to RM8.57, and CIMB Group Holdings Bhd slid two sen to RM4.98.
Of the actives, YTL Corp Bhd put on five sen to 97.5 sen, TWL Holdings Bhd was flat at three sen, Top Glove Corp Bhd slid 11.5 sen to 97.5 sen, Classita Holdings Bhd shed half a sen to 9.5 sen, and Sarawak Consolidated Industries Bhd decreased 1.5 sen to 40.5 sen.
On the index board, the FBM Emas Index was 34.90 points higher at 10,247.62, the FBMT 100 Index increased 37.94 points to 9,944.36, the FBM Emas Shariah Index rose 47.25 points to 10,611.78, the FBM ACE Index garnered 20.95 points to 5,125.76, and the FBM 70 Index was 5.24 points firmer at 13,584.71.
Sector-wise, the Industrial Products and Services Index advanced 1.90 points to 160.79, the Plantation Index slipped 52.13 points to 6,648.54, the Energy Index climbed 6.67 points to 793.89, and the Financial Services Index slipped 30.69 points to 15,173.32.
The Main Market volume expanded to 2.56 billion units valued at RM3.01 billion, from 2.43 billion units valued at RM1.54 billion on Thursday.
Warrant turnover declined to 376.42 million units worth RM57.82 million, against 399.46 million units worth RM72.87 million previously.
The ACE Market volume dwindled to 604.44 million shares valued at RM181.28 million, from 642.95 million shares valued at RM190.47 million on Thursday.
Consumer products and services counters accounted for 503.14 million shares traded on the Main Market, followed by industrial products and services (503.60 million), construction (62.59 million), technology (216.54 million), special purpose acquisition companies (nil), financial services (148.56 million), property (395.26 million), plantation (61.97 million), real estate investment trusts (5.39 million), closed/funds (53,000), energy (208.29 million), healthcare (268.97 million), telecommunications and media (48.79 million), transportation and logistics (45.32 million), and utilities (86.90 million).
Source: The Edge
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