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 (Dec 19): Bursa Malaysia ended higher on Tuesday, extending its winning streak for the seventh day.
SPI Asset Management managing director Stephen Innes said the Bank of Japan held its monetary policy steady, giving Asian bourses including Bursa Malaysia a slight boost late afternoon.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.39 of a point to 1,465.67 versus Monday's close of 1,465.28.
The FBM KLCI opened 1.28 points higher at 1,466.56 and moved between 1,464.55 and 1,467.61 throughout the day.
In the broader market, gainers beat losers 474 to 431, while 478 counters were unchanged, 933 untraded, and 12 others suspended.
Turnover fell to 3.72 billion units worth RM2.42 billion from 4.81 billion units worth RM3.02 billion on Monday.
Among the heavyweights, Malayan Banking Bhd eased two sen to RM8.98, Public Bank Bhd slid one sen to RM4.34, Petronas Chemicals Group Bhd was 10 sen lower to RM7.09, but CIMB Group Holdings Bhd rose two sen to RM5.96 and Tenaga Nasional Bhd gained one sen to RM10.
Of the actives, Leform Bhd inched up half-a-sen to 39 sen, Widad Group Bhd increased half-a-sen to 47 sen, Iskandar Waterfront City Bhd gained 5.5 sen to 67 sen, Top Glove Corp Bhd slipped two sen to 94 sen, while Careplus Group Bhd was flat at 46.5 sen.
On the index board, the FBM Emas Index rose 6.13 points to 10,864.56, the FBMT 100 Index expanded 6.20 points to 10,530.52, the FBM 70 Index climbed 22.47 points to 14,534.02 and the FBM ACE Index gained 21.73 points to 5,183.13, but the FBM Emas Shariah Index edged down 0.09 of-a-point to 10,984.69.
Sector-wise, the Financial Services Index lost 19.81 points to 16,505.70, the Energy Index was 5.05 points stronger to 818.45, the Industrial Products and Services Index eased 0.78 of-a-point to 171.64, while the Plantation Index dipped 27.34 points to 7,004.60.
The Main Market volume weakened to 2.20 billion units valued at RM2.11 billion against 2.81 billion units valued at RM2.60 billion on Monday.
Warrants turnover contracted to 695.52 million units worth RM78.32 million from 746.97 million units worth RM95.73 million previously.
The ACE Market volume dipped to 817.79 million shares valued at RM228.89 million versus 1.25 billion shares valued at RM327.28 million on Monday.
Consumer products and services counters accounted for 259.70 million shares traded on the Main Market, industrial products and services (436.98 million), construction (194.44 million), technology (163.64 million), SPAC (nil), financial services (66.12 million), property (382.03 million), plantation (22.66 million), REITs (7.71 million), closed/fund (9,500), energy (172.55 million), healthcare (340.95 million), telecommunications and media (37.96 million), transportation and logistics (28.04 million), and utilities (88.67 million).
Source: The Edge
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