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 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 from Japan coupled with some profit taking following Thursday’s rally.
“Back home, the market undertone was still cautious due to the increasing global market volatility,” he told Bernama.
Among the heavyweights, Malayan Banking Bhd was unchanged at RM9.09, Public Bank Bhd was down two sen to RM4.25, Tenaga Nasional Bhd fell two sen to RM10, CIMB Group Holdings Bhd gained one sen to RM5.75 and Petronas Chemicals Group Bhd climbed 14 sen to RM7.30.
Of the actives, Top Glove Corp Bhd put on 1.5 sen to 90 sen, Leform Bhd went up one sen to 29.5 sen, Hong Seng Consolidated Bhd was flat at 2.5 sen, CSH Alliance Bhd added half-a-sen to six sen, and Widad Group Bhd lost half-a-sen to 46.5 sen.
On the index board, the FBM Emas Index was 4.46 points lower at 10,768.73, the FBMT 100 Index slid 3.29 points to 10,430.89 and the FBM Emas Shariah Index shed 20.64 points to 10,944.01.
The FBM 70 Index slid 38.38 points to 14,331.74, while the FBM ACE Index rose 3.27 points to 5,205.43.
Sector-wise, the Financial Services Index gained 1.08 points to 16,384.32, the Energy Index dipped 10.82 points to 834.85, the Plantation Index was 16.12 points weaker at 6,931.35, while the Industrial Products and Services Index went up 0.77 of-a-point to 174.11.
Main Market volume trimmed to 2.09 billion units valued at RM2.04 billion from 2.50 billion units valued at RM1.80 billion on Thursday.
Warrants turnover increased to 710.88 million units valued at RM87.76 million against 573.50 million units valued at RM75.05 million previously.
ACE Market volume advanced to 677.28 million shares worth RM223.46 million versus 637.42 million shares worth RM210.79 million.
Consumer products and services counters accounted for 358.17 million shares traded on the Main Market, industrial products and services (502.14 million), construction (71.52 million), technology (204.08 million), SPAC (nil), financial services (44.46 million), property (199.52 million), plantation (39.13 million), REITs (10.29 million), closed/fund (21,600), energy (141.98 million), healthcare (318.45 million), telecommunications and media (36.02 million), transportation and logistics (31.66 million), and utilities (136.58 million).
Source: The Edge
Comments
Post a Comment