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 (Oct 27): Bursa Malaysia ended the week slightly higher on Friday as bargain-hunting activities emerged, with buying seen mainly in transportation and logistics stocks, said a dealer.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.3 points to 1,441.9 from Thursday's closing of 1,440.60. The benchmark index opened 0.11 of a point better at 1,440.71 and moved between 1,439.33 and 1,444.15 throughout the day.
On the broader market, decliners edged past gainers 430 to 426 while 463 counters were unchanged, 1,073 untraded and 24 suspended. Turnover shrank to 2.72 billion units worth RM1.69 billion from 3.23 billion units worth RM1.98 billion on Thursday.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the sentiment would remain cautious given the increasing market risks and global volatility. "Yet, we [maintain] our view that the valuations of the KLCI continue to be appealing, providing opportunities for investors," he said.
Bursa heavyweight stocks Maybank Bhd, Public Bank Bhd and CIMB Group Holdings Bhd stood unchanged at RM9, RM4.17 and RM5.68, respectively, while Petronas Chemicals Group Bhd added eight sen to RM7.30 and Tenaga Nasional Bhdshed two sen to RM9.87.
Of the actives, CSH Alliance Bhd and Kanger International Bhd slid half a sen each to 5.5 sen and 13.5 sen, respectively, while Sarawak Consolidated Industries Bhd and PUC Bhd were unchanged at 54 sen and 5.5 sen. Widad Group Bhd lost one sen to 44.5 sen.
On the index board, the FBM Emas Index gained 2.3 points to 10,634, the FBMT 100 Index was 2.71 points better at 10,307.01 and the FBM Emas Shariah Index climbed 2.69 points to 10,846.12.
However, the FBM ACE Index dropped 11.32 points to 5,038.27 and the FBM 70 Index fell 24.96 points to 13,997.71.
Sector-wise, the Consumer Products and Services Index was 2.01 points higher at 553.5, the Industrial Products and Services Index edged up 0.87 of a point to 172.73 and the Plantation Index went up 13.37 points to 6,888.85. The Energy Index expanded by 3.92 points to 874.58 while the Financial Services Index went down 9.42 points to 16,233.37.
The Main Market volume was weaker at 1.68 billion units worth RM1.46 billion compared with 2.15 billion units worth RM1.72 billion on Thursday.
Warrant turnover expanded to 406.73 million units valued at RM66.54 million against 320.3 million units valued at RM41.67 million on Thursday.
The ACE Market volume slid to 620.01 million shares worth RM164.01 million from 742.41 million shares worth RM221.09 million previously.
Consumer products and services counters accounted for 240 million shares traded on the Main Market, industrial products and services (582.5 million); construction (129.99 million); technology (143.67 million); SPAC (nil); financial services (52.71 million); property (222 million); plantation (22.29 million); REITs (6.53 million), closed/fund (28,800); energy (69.87 million); healthcare (75.25 million); telecommunications and media (23.61 million); transportation and logistics (53.24 million); and utilities (62.26 million).
Source: The Edge
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