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Russia Holds Key Rate at 21% Amid Surging Inflation

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...

Market Daily Report: KLCI ends in positive territory on late buying

KUALA LUMPUR (Nov 30): The FTSE Bursa Malaysia KLCI (FBM KLCI) recouped after a weak opening and finished in positive territory on Thursday thanks to late buying on Dialog Group Bhd, CelcomDigi Bhd and Nestle (M) Bhd stocks, a dealer said. At 5pm, the FBM KLCI gained 0.46% or 6.67 points to an intra-day high of 1,452.74 from Wednesday’s close of 1,446.07. The benchmark index opened 1.73 points weaker at 1,444.34 and moved between 1,440.62 and 1,452.74 throughout the trading session. However, market breadth remained negative, with decliners outpacing gainers by 626 to 328, while 419 counters were unchanged, 995 untraded and 63 others suspended. Turnover expanded to 4.25 billion units worth RM4.97 billion from 3.28 billion units valued at RM2.27 billion on Wednesday. Rakuten Trade equity research vice-president Thong Pak Leng said the regional markets closed mostly higher, driven by late buying activity, with investors anticipating a potential interest rate cut by the US Fede...

Market Daily Report: Bursa closes lower for third straight session

KUALA LUMPUR (Nov 29): Bursa Malaysia closed lower for the third straight session on Wednesday after reversing all its intraday gains, dragged down by selling in telecommunication and banking heavyweights, said an analyst.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged lower by 0.13% or 1.95 points to 1,446.07 from Tuesday's closing of 1,448.02.  The benchmark index opened 0.61 of a point firmer at 1,448.63 and moved between 1,445.61 and 1,450.42 throughout the trading session. Market breadth was negative, with losers leading gainers by 588 to 354, while 426 counters were unchanged, 1,011 untraded and 85 others suspended. Turnover narrowed to 3.28 billion units worth RM2.27 billion from 3.81 billion units valued at RM2.38 billion on Tuesday.  Apex Securities Bhd head of research Kenneth Leong said the benchmark index was impacted by the weaker corporate earnings reported by Axiata Group during the midday break. “Looking ahead, we expect the downward ...

Market Daily Report: KLCI ends in negative territory on lack of buying interests, weak market sentiment

KUALA LUMPUR (Nov 28): The FBM KLCI pared losses on Tuesday but remained in negative territory as investors were reluctant to make significant moves due to lack of buying interests and weak market sentiment, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 0.13 of a point to 1,448.02 from Monday’s closing of 1,448.15.  The barometer index opened 2.04 points better at 1,450.19 and moved between 1,446.6 and 1,452.6 throughout the trading session.  Market breadth was negative, with losers surpassing gainers at 526 to 390, while 450 counters were unchanged, 1,044 untraded and 72 others suspended. Turnover expanded to 3.81 billion units valued at RM2.38 billion from 3.09 billion units worth RM2.05 billion on Monday.  Rakuten Trade equity research vice president Thong Pak Leng said key regional indices finished mostly lower following a negative cue from global equities overnight. He said investors were eagerly anticipating updates on inflation...

Market Daily Report: Bursa ends lower on selling in selected heavyweights, mid-cap stocks

KUALA LUMPUR (Nov 27): Bursa Malaysia finished lower on Monday, dampened by selling in selected heavyweights as well as mid- and small-cap stocks, a dealer said. At 5pm, the barometer index declined 5.77 points to 1,448.15 from Friday’s (Nov 24) closing of 1,453.92. The index opened 0.77 of a point weaker at 1,453.15 and moved between 1,448 and 1,455.78 throughout the day. Market breadth was negative, with decliners outpacing gainers 683 to 287, while 415 counters were unchanged, 1,025 untraded and 48 others suspended. Turnover fell slightly to 3.09 billion units valued at RM2.05 billion from 3.5 billion units valued at RM2.35 billion on Friday.  Rakuten Trade equity research vice president Thong Pak Leng said the key regional indices also trended downward as investors exercised caution ahead of upcoming inflation data from the US and Europe later this week. The 7.8% year-on-year decline in China's industrial profits in October further weakened investor sentim...

Market Daily Report: FBM KLCI ends on positive note despite subdued trading

KUALA LUMPUR (Nov 24): The FTSE Bursa Malaysia KLCI (FBM KLCI) closed slightly higher on Friday despite subdued trading, in line with the performance of regional markets, a dealer said. At 5pm, the barometer index rose 0.63 of-a-point to 1,453.92 from Thursday’s closing of 1,453.29. The index opened 2.49 points better at 1,455.78 and moved between 1,451.08 and 1,456.05 throughout the day. Market breadth was negative, with decliners outpacing gainers 528 to 392, while 473 counters were unchanged, 1,009 untraded and 10 others suspended. Turnover narrowed to 3.50 billion units valued at RM2.35 billion from 3.71 billion units valued at RM2.08 billion on Thursday. Rakuten Trade equity research vice-president Thong Pak Leng said the FBM KLCI managed to finish in positive territory largely due to strong buying on Genting Bhd and Genting Malaysia Bhd following their splendid quarterly earnings. He said key regional indices trended lower reflecting the lacklustre economic signals fr...

Market Daily Report: Bursa ends marginally lower amid mixed global cues

KUALA LUMPUR (Nov 23): Bursa Malaysia extended Wednesday's losses to close lower on Thursday, amid mixed global cues and the fall in crude oil prices, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 2.6 points to 1,453.29 from Wednesday’s closing of 1,455.89. The index opened 0.79 of-a-point better at 1,456.68 and thereafter moved between 1,451.35 and 1,456.68 throughout the trading session. Market breadth was negative, with decliners outpacing gainers 532 to 417, while 423 counters were unchanged, 1,002 untraded and 10 others suspended. Turnover increased to 3.71 billion units valued at RM2.08 billion against 2.97 billion units valued at RM2.04 billion on Wednesday. SPI Asset Management managing director Stephen Innes said that despite a broad-based rally in US stocks overnight, Asia markets put in a mixed performance with the FBM KLCI trading lower on an extension of Wednesday's profit-taking mode. "Today's negative catalyst...

Market Daily Report: Bursa closes marginally lower on profit taking

KUALA LUMPUR (Nov 22): Bursa Malaysia retreated from Tuesday's gains to finish marginally lower on Wednesday, dragged by profit-taking activities as the risk-off mode intensified, an analyst said.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.51 points to 1,455.89 from Tuesday’s closing of 1,463.4. The barometer index opened 2.81 points lower at 1,460.59 — its highest level on Wednesday — before moving to the day’s low of 1,454.52 during the morning session. Market breadth was negative, with decliners leading gainers 530 to 374, while 435 counters were unchanged, 1,035 untraded and 10 others suspended. Turnover narrowed to 2.97 billion units valued at RM2.04 billion against 3.66 billion units valued at RM2.11 billion the previous day. SPI Asset Management managing director Stephen Innes said the KLCI trended lower as investors re-evaluated market sentiment following the release of US Federal Reserve's minutes, which tempered rate cut expectations....

Market Daily Report: Bursa snaps 3 days of losses to end at intraday high

KUALA LUMPUR (Nov 21): Bursa Malaysia snapped three consecutive days of losses to end at its intraday high on Tuesday, as bargain-hunting activities emerged following the recent sell-off. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.48 points to 1,463.4 from Monday’s closing of 1,456.92. The barometer index opened 1.21 points higher at 1,458.13 and slid to a low of 1,456.16 in the morning session before climbing to 1,463.4 in the final trading hour on late buying. The market breadth was positive, with gainers leading decliners 500 to 411, while 472 counters were unchanged, 991 untraded and nine others suspended.   Turnover widened to 3.66 billion units valued at RM2.11 billion from 3.23 billion units valued at RM1.70 billion on Monday. Rakuten Trade equity research vice president Thong Pak Leng expects the local market outlook to remain stable, driven by the improving corporate earnings and strong fundamentals of the economy. "For the local bourse, we ad...

Market Daily Report: Bursa closes marginally lower on lack of buying interest

  KUALA LUMPUR (Nov 20): Bursa Malaysia extended its downtrend to end marginally lower on Monday in the absence of buying interest amid a mixed performance in the regional markets. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.75 points to 1,456.92 from Friday’s (Nov 17) closing of 1,460.67. The index opened 0.41 of a point point easier at 1,460.26 — its intraday high — and moved to an intraday low of 1,454.12 in the morning session. The market breadth was negative with decliners outpacing gainers at 499 versus 395, while 457 counters were unchanged, 1,023 untraded and nine others suspended. Turnover narrowed to 3.23 billion units valued at RM1.7 billion from 3.27 billion units valued at RM1.89 billion on Friday. Rakuten Trade equity research vice president Thong Pak Leng said regional markets trended mixed as investors are cautious ahead of the minutes of the US Federal Reserve’s late-October meeting, due on Tuesday (Nov 21). On the domestic front, h...

Market Daily Report: Bursa retreats on China property woes and ahead of Malaysia's 3Q GDP results

  KUALA LUMPUR (Nov 16): Shares on Bursa Malaysia retreated at the close on Thursday on profit taking after Wednesday’s gains and as China’s property woes weighed on regional sentiment, with investors also cautious ahead of Malaysia's third quarter (3Q) results on Friday. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.16 points to 1,464.68 from Wednesday’s closing of 1,466.84. The index opened 2.06 points easier at 1,464.78 and hit its lowest of 1,460.46 and highest of 1,465.16. The market breadth was negative with decliners outpacing gainers 487 to 419 while 470 counters were unchanged, 1,004 untraded and 24 others suspended. Turnover narrowed to 3.48 billion units valued at RM2.07 billion from Wednesday’s 3.94 billion units valued at RM2.21 billion.   Asian stocks fell on Thursday, pausing the heavy gains made this week, as fresh Chinese data showed prolonged weakness in the property sector and dented some of the recent optimism about a recovery in ...

Market Daily Report: Bursa closes lower as US, China worries weigh on sentiment

KUALA LUMPUR (Nov 17): Bursa Malaysia ended Friday lower as worries over economic and financial developments in the US and China weighed on global sentiment.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.01 points to 1,460.67 from Thursday’s closing of 1,464.68. The index opened 3.09 points easier at 1,461.59 and subsequently moved between 1,458.53 and 1,462.31 throughout the trading session. The market breadth was mixed with decliners slightly outpacing gainers 450 to 440 while 461 counters were unchanged, 1,039 untraded and 24 others suspended. Turnover narrowed to 3.27 billion units valued at RM1.89 billion from Thursday’s 3.48 billion units valued at RM2.07 billion. Rakuten Trade equity research vice president Thong Pak Leng said major regional indices mirrored global negativity, with Hong Kong experiencing a sharp decline after Chinese tech giant Alibaba scrapped its cloud computing unit spin-off plan, citing uncertainties arising from US chip restrictio...

Market Daily Report: KLCI shoots up to more than 8-month high

KUALA LUMPUR (Nov 15): Bursa Malaysia rose to more than an eight-month high on Wednesday as investors anticipated the US Federal Reserve (Fed) to be already done with its rate hike cycle after the October data showed inflation has declined. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1.04% or 15.12 points to end its intraday high of 1,466.84 compared to Tuesday’s closing of 1,451.72. The index opened 1.89 points higher at 1,453.61, its lowest point of the day. Turnover widened to 3.94 billion units valued at RM2.21 billion from Tuesday’s 3.08 billion units valued at RM1.77 billion. Rakuten Trade equity research vice president Thong Pak Leng said that the KLCI managed to break the 1,465 resistance level, supported by strong buying from foreign funds and retail investors, with the market further boosted by China's better-than-expected retail and industrial data.  "The FBM KLCI continued its upward trajectory as investor sentiment improved in tandem with ...

Market Daily Report: Earnings optimism, bargain hunting lift KLCI to end in positive territory

KUALA LUMPUR (Nov 14): Bursa Malaysia's barometer index ended on a positive note on Tuesday as domestic sentiment was lifted by earnings optimism, while bargain hunters nibbled on heavyweight shares after a recent sell-off. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) bagged 6.54 points to 1,451.72 compared to last Friday’s (Nov 10) closing of 1,445.18. The index opened 0.28 of a point easier at 1,444.9, its intraday low, and hit an intraday high of 1,453.99 throughout the day. On the broader market, gainers edged past losers 489 to 481, while 402 counters were unchanged, 1,007 untraded and nine others suspended. Turnover narrowed to 3.08 billion units valued at RM1.77 billion from Friday’s 3.19 billion units valued at RM1.61 billion. Rakuten Trade equity research vice president Thong Pak Leng said bargain-hunting activities were seen in telecommunications and commodity-related stocks. "Regionally, key indices displayed mixed trends as investors exercised cautio...

Market Daily Report: Bursa Malaysia ends lower, in line with global markets

KUALA LUMPUR (Nov 10): Bursa Malaysia ended the week on a softer note, in line with regional bourses, mirroring the global market downturn, as the US Federal Reserve (Fed) chairman Jerome Powell expressed doubts about US interest rates’ effectiveness in curbing inflation.  At 5pm on Friday, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 0.48%, or 7.09 points, to close at 1,445.18, from Thursday’s closing of 1,452.27.   The index opened 1.71 points easier at 1,450.56 and moved between 1,425.01 and 1,451.22 throughout the day. On the broader market, decliners trumped gainers 557 to 359, while 437 counters were unchanged, 1,021 untraded and 20 others suspended. Turnover narrowed to 3.19 billion units valued at RM1.61 billion, from Thursday’s 3.32 billion units valued at RM1.94 billion. Rakuten Trade equity research vice-president Thong Pak Leng reckoned that the persisten...

Market Daily Report: Bursa closes lower, tracking regional peers

KUALA LUMPUR (Nov 9): Bursa Malaysia ended lower for the third consecutive day on Thursday, tracking the downbeat performance by regional peers as market sentiments turned cautious ahead of the US Federal Reserve’s (Fed) monetary policy decision later in the day. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 0.36%, or 5.33 points to close at 1,452.27 from Wednesday's closing of 1,457.6.   The index opened 0.76 of a point easier at 1,456.84 and moved between 1,450.64 and 1,457.84 throughout the day. The broader market was negative as decliners outpaced gainers 470 to 439, while 440 counters were unchanged, 1,024 untraded and 20 others suspended. Turnover narrowed to 3.32 billion units valued at RM1.94 billion from Wednesday’s 3.45 billion units worth RM1.97 billion. Apex Securities Bhd head of research Kenneth Leong said the KLCI extended its decline as investors brushed off the strong retail sales data which recorded a 6.5% year-on-year rise in Septemb...

Market Daily Report: Banking counters weigh on Bursa, KLCI down 5.77 points

KUALA LUMPUR (Nov 8): Losses in heavyweight counters, led by banking stocks, weighed on the FBM KLCI amid caution ahead of US Federal Reserve (Fed) chairman Jerome Powell’s speech on the US interest rate outlook later on Wednesday and Thursday. However, the broader market was positive as interest centred on lower liners due to optimism over corporate earnings and improving economic conditions, according to Rakuten Trade equity research vice president Thong Pak Leng. At 5pm, the KLCI fell 0.39%, or 5.77 points to end at 1,457.6 from Tuesday's closing of 1,463.37.   The index opened 2.24 points easier at 1,461.13 and moved between 1,454.46 and 1,462.01 throughout the trading session. The broader market was positive as gainers led decliners 490 to 412, while 454 counters were unchanged, 1,008 untraded and 10 others suspended. Turnover expanded to 3.45 billion units valued at RM1.97 billion from Tuesday’s 3.27 billion units valued at RM2.17 billion. Thong said the near-...

Market Daily Report: Bursa recoups earlier losses to end marginally lower

KUALA LUMPUR (Nov 7): Bursa Malaysia recouped most of its earlier losses to close marginally lower on Tuesday on profit taking, said a dealer.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.3 points to end at 1,463.37 from Monday's closing of 1,464.67.   The benchmark index opened 0.62 of a point easier at 1,464.05 and moved between 1,458.66 and 1,465.55 throughout the trading session. The broader market was negative with decliners outpacing gainers 517 to 385, while 461 counters were unchanged, 985 untraded and seven others suspended. Turnover dropped to 3.27 billion units valued at RM2.17 billion from Monday’s 3.76 billion units valued at RM2.34 billion. Rakuten Trade equity research vice president Thong Pak Leng said the trend for Malaysian equities remained positive, driven by improving regional sentiment and substantial support from foreign investors. “Despite profit-taking activities today, we view it as a healthy sign, as it allows the mar...

Market Daily Report: Bursa ends higher on broad-based buying momentum, CI hits over 8-month high

KUALA LUMPUR (Nov 6): Bursa Malaysia ended the first trading day of the week on a positive tone, with the benchmark index rising 1.02% to more than an eight-month high, on broad-based buying momentum riding on the improving market sentiment regionally, said Rakuten Trade Sdn Bhd.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 14.74 points to end at its intraday high of 1,464.67 from Friday's (Nov 3) closing of 1,449.93.  The benchmark index opened 2.46 points firmer at 1,452.39 and thereafter hit a low of 1,452.29 in the early session before moving in an upward trajectory. The broader market stayed positive with gainers beating decliners 665 to 284, while 441 counters were unchanged, 961 untraded and 22 suspended. Turnover increased to 3.76 billion units valued at RM2.34 billion against 3.6 billion units valued at RM2.02 billion on Friday.  Rakuten Trade equity research vice president Thong Pak Leng said major regional indices also saw an up...

Market Daily Report: Bursa ends positive on growing investor confidence

KUALA LUMPUR (Nov 3): Malaysian equities ended the week mostly positive, reflecting the growing investor confidence after the temporary halt in US interest rate increases.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.7%, or 10.16 points higher, to 1,449.93 from Thursday's closing of 1,439.77. The benchmark index opened 7.86 points firmer at 1,447.63 and moved between 1,444.79 and 1,453.19 throughout the trading session.  The broader market stayed positive with gainers beating decliners 621 to 309, while 440 counters were unchanged, 981 untraded and 22 suspended. Turnover increased to 3.6 billion units valued at RM2.02 billion from 3.38 billion units worth RM1.93 billion the previous day. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said major regional indices rose sharply higher, especially in Hong Kong, with buying interests focused mainly on tech-related, consumer and energy stocks, fuelled by optimism stemming from Wall Stree...

Market Daily Report: Bursa closes marginally higher on bargain hunting

KUALA LUMPUR (Nov 2): Bursa Malaysia finished the day marginally higher on Thursday as bargain hunting emerged following Wednesday's selldown.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.3%, or 4.44 points higher, to 1,439.77 from Wednesday's closing of 1,435.33. The benchmark index opened 0.61 of a point firmer at 1,435.94 and moved between 1,435.86 and 1,441.35 throughout the trading session. The broader market was positive with gainers beating decliners 575 to 300, while 425 counters were unchanged, 1,050 untraded and 14 suspended. Turnover increased to 3.38 billion units worth RM1.93 billion from 2.79 billion units valued at RM1.79 billion the previous day. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the key regional indices also showed positive gains as the US Federal Reserve opted to maintain its benchmark interest rates, contributing to the upbeat sentiment.  “We believe the outlook for regional equities remains upb...

Market Daily Report: Bursa ends on negative note on flat PMI data

KUALA LUMPUR (Nov 1): Bursa Malaysia ended the first trading day of November on Wednesday on a negative note on the back of sluggish purchasing managing index (PMI) data in October, recording the 14th consecutive month of contraction, said an analyst.  According to S&P Global Market Intelligence, the latest seasonally adjusted S&P Global Malaysia Manufacturing PMI was unchanged at 46.8 in October, with reports suggesting that firms continued to struggle against the backdrop of demand weakness, both at home and abroad. At 5pm,  the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.47% lower, or 6.81 points, to 1,435.33 from Tuesday's closing of 1,442.14. The benchmark index opened 0.97 of a point lower at 1,441.17 and moved between 1,434.93 and 1,441.59 throughout the trading session. The broader market was also negative with decliners beating gainers 562 to 319, while 401 counters were unchanged, 1,068 untraded and 14 suspended. Turnover decreased to 2.79 bill...