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 (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 advise investors to stay cautious ahead of the release of the US Federal Open Market Committee minutes [to be released later on Tuesday]," he said.
Thong further noted that the KLCI is expected to trend within the 1,450-1,470 range for the rest of the week.
Among the heavyweight counters, Maybank Bhd was unchanged at RM9.11, Public Bank Bhd rose six sen to RM4.27, CIMB Group Holdings Bhd added two sen to RM5.79, Tenaga Nasional Bhd gained five sen to RM10.02, and Petronas Chemicals Group Bhd climbed 18 sen to RM7.38.
Of the actives, Hong Seng Consolidated Bhd Bhd, Widad Group Bhd and Dagang NeXchange Bhd were all unchanged at three sen, 46 sen, and 43 sen respectively, MyEG Services Bhd inched up a sen to 81.5 sen, while Leform Bhd lost 2.5 sen to 26.5 sen.
On the index board, the FBM Emas Index increased 39.89 points to 10,830.01, the FBMT 100 Index advanced 39.24 points to 10,488.54 and the FBM Emas Shariah Index climbed 36.48 points to 11,038.29.
The FBM ACE Index went up 13.13 points to 5,208.38 and the FBM 70 Index expanded 22.41 points to 14,365.84.
Sector-wise, the Financial Services Index perked up 64.46 points to 16,423.73, the Energy Index edged up 3.24 points to 863.75, the Plantation Index improved 30.08 points to 7,016.08, and the Industrial Products and Services Index rose 2.45 points to 176.03.
The Main Market volume stood at 2.15 billion units worth RM1.79 billion compared to 2.15 billion units worth RM1.41 billion on Monday.
Warrants turnover surged to 741.11 million units valued at RM92.53 million from 451.48 million units valued at RM70.87 million previously.
The ACE Market volume expanded to 745.51 million shares worth RM219.57 million from 629.63 million shares worth RM220.28 million the previous day.
Consumer products and services counters accounted for 343.4 million shares traded on the Main Market, industrial products and services (362.64 million); construction (136.89 million); technology (677.65 million); SPAC (nil); financial services (74.75 million); property (192.62 million); plantation (29.3 million); REITs (6.85 million), closed/fund (83,500); energy (91.58 million); healthcare (91.5 million); telecommunications and media (26.6 million); transportation and logistics (42.13 million); and utilities (71.05 million).
Source: The Edge
Comments
Post a Comment