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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: Bursa closes mixed ahead of US Fed rate decision

KUALA LUMPUR (Jan 31): Bursa Malaysia’s key index was little changed while the broader market ended mixed on Wednesday, amid cautious sentiment prevailing across the region ahead of the US Federal Reserve’s (Fed) decision on interest rate later in the day, said a dealer. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.23 of a point to end at 1,512.98 from Tuesday's close of 1,512.75. The barometer index opened 0.15 of a point easier at 1,512.6 and moved between 1,509.55 and 1,516.4 throughout the day. Decliners led advancers 635 to 401 on the broader market, while 427 counters were unchanged, 799 untraded, and 52 others suspended. Turnover declined to 3.67 billion units valued at RM2.86 billion from 3.78 billion units worth RM2.64 billion on Tuesday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the major regional indices also finished mixed on cautious sentiment as investors are awaiting the US Fed decision on interest rates during i...

Market Daily Report: Profit taking ends Bursa's six-day winning streak

KUALA LUMPUR (Jan 30 ): Bursa Malaysia snapped its six-day winning streak to close lower on Tuesday as investors took profit from recent gains amid caution in regional markets as worries over China’s property sector weighed on sentiment, dealers said. The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.64 points to end at 1,512.75 from Monday’s close of 1,515.39. The barometer index, which opened 2.36 points better at 1,517.75, moved between 1,511.84 and 1,520.31 throughout the day. Decliners led advancers 622 to 383 on the broader market, while 459 counters were unchanged, 794 untraded and 73 others suspended. Turnover dropped to 3.78 billion units valued at RM2.6 billion from 4.32 billion units worth RM2.98 billion on Monday.

Market Daily Report: Bursa continues winning streak for sixth day, CI breaks 16-month high

KUALA LUMPUR (Jan 29):  Bursa Malaysia maintained its upward trajectory to end higher for the sixth straight trading day on Monday, with the key index breaking the 16-month high, on the back of persistent buying in plantation and financial services counters, dealers said. The FTSE Bursa Malaysia KLCI (FBM KLCI) gained 9.11 points to end at 1,515.39 from Friday’s (Jan 26) close of 1,506.28. The barometer index, which opened 1.83 points better at 1,508.11, moved between 1,507.88 and 1,518.44 throughout the day. Decliners led advancers 513 to 499 on the broader market, while 471 counters were unchanged, 805 untraded and 64 others suspended. Turnover dropped to 4.32 billion units valued at RM2.98 billion from 4.92 billion units worth RM3.42 billion on Friday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the key regional indices closed mostly higher with strong gains in energy stocks following the surge in crude oil prices. “Bargain hunting persists ...

Market Daily Report: Bursa extends rally for fifth day

KUALA LUMPUR (Jan 26): Bursa Malaysia continued its bullish streak to end higher for the fifth straight day on Friday, with the key index remaining above the 1,500-psychological level, thanks to persistent buying support in heavyweights amid the mixed regional market performance. The FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.18 points to end the week at 1,506.28 from Wednesday's close of 1,504.1. The barometer index, which opened 0.65 of a point easier at 1,503.45, moved in a tight range of between 1,502.89 and 1,509.39. On the broader market, advancers outpaced decliners 580 to 477, while 445 counters were unchanged, 795 untraded and 49 others suspended. Turnover increased marginally to 4.92 billion units valued at RM3.42 billion from 4.34 billion units worth RM2.88 billion on Wednesday. Bursa Malaysia and its subsidiaries were closed on Thursday (Jan 25) day in conjunction with Thaipusam.  Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the ...

Market Daily Report: KLCI ends at near 16-month high as OPR remains unchanged

KUALA LUMPUR (Jan 24): Bursa Malaysia closed higher, almost across the board, on Wednesday with the key index extending its winning streak to a nearly 16-month high as the market reacted positively to Bank Negara Malaysia's (BNM) decision to keep the overnight policy rate (OPR) unchanged. Despite a mixed regional market performance, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.99 points to end the day at 1,504.1 from Tuesday's close of 1,496.11. The highest level was last seen on Aug 30, 2022, when the index closed at 1,512.05. The barometer index, which opened 1.05 points better at 1,497.16 in the morning, moved in positive territory throughout the day at between 1,497.16 and 1,504.44. Market breadth was bullish with advancers overwhelming decliners 690 to 360, while 431 counters were unchanged, 806 untraded and 19 others suspended. Turnover dropped to 4.34 billion units worth RM2.88 billion from 5.16 billion units valued at RM3.33 billion on Tuesday. ...

Market Daily Report: Bursa closes higher for third straight day ahead of OPR decision

KUALA LUMPUR (Jan 23): Bursa Malaysia closed higher for the third consecutive day on Tuesday, buoyed by continuous buying support in the heavyweight counters, especially banking-related stocks, ahead of Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) decision. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.92 points to 1,496.11 from Monday's close of 1,491.19. The barometer index, which opened 1.37 points better at 1,492.56 this morning, moved between 1,490.2 and 1,500.39 throughout the day. Mild profit taking emerged early in the morning session, but the key index retested the 1,500-level at mid-morning and maintained its positive momentum thereafter. The broader market saw advancers outpacing losers 511 to 470, while 465 counters were unchanged, 826 untraded and 13 others suspended. Turnover increased to 5.16 billion units valued at RM3.33 billion from 4.79 billion units worth RM3.12 billion on Monday. Bank Muamalat Malaysia Bhd chief economist Mohd A...

Market Daily Report: Bargain hunting drives Bursa higher for second straight day

KUALA LUMPUR (Jan 22): Bursa Malaysia closed higher for the second consecutive day on Monday, thanks to bargain-hunting activities in selected heavyweights and small-cap stocks. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.82 points to 1,491.19 from last Friday's (Jan 19) close of 1,486.37. The barometer index, which opened 0.98 of a point better at 1,487.35, moved between 1,485.51 and 1,493.98 throughout the session.  Buying in heavyweights was led by YTL Power International Bhd, which climbed 19 sen or 5.26% to RM3.80, followed by Axiata Group Bhd which soared 14 sen or 5.51% to RM2.68, while YTL Corp Bhd surged 11 sen or 5.05% to RM2.29. These three stocks contributed 6.681 points to the rise in the composite index. In line with the upbeat momentum, the broader market saw advancers outpacing losers 644 to 375, while 428 counters were unchanged, 816 untraded and 15 others suspended. Turnover dropped to 4.79 billion units worth RM3.12 billion from ...

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

KUALA LUMPUR (Jan 19): Bursa Malaysia snapped three consecutive days of losses to end at its intraday high on Friday on bargain hunting in selected heavyweights led by the financial services and utilities sectors. This was in tandem with a few key Asian markets which rebounded on Friday while taking the cue from the strong performance of US stocks, buoyed by artificial intelligence optimism which drove gains in chipmakers and brightened the earnings outlook for technology stocks, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.19 points to 1,486.37 from Thursday's close of 1,479.18. The barometer index opened one point better at 1,480.18 and moved to as low as 1,477.05 in the early morning session. On the broader market, gainers beat losers 639 to 359, while 423 counters were unchanged, 844 untraded and 16 others suspended. Turnover decreased to 5.39 billion units worth RM2.73 billion from 6.10 billion units worth RM3.62 billion on Thursday. Rakuten Tr...

Market Daily Report: Bursa ends lower in tandem with regional peers

KUALA LUMPUR (Jan 17): Bursa Malaysia ended lower on Wednesday in tandem with its regional peers, jittered by uncertainties over the US interest rates path as well as the health of China’s economy after the release of its 2023 gross domestic product (GDP), a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.66 points to 1,491.21 from Tuesday's close of 1,493.87. The KLCI opened 1.98 points easier at 1,491.89 and moved between 1,487.52 and 1,494.32 during the trading session.  On the broader market, decliners thumped gainers 832 to 265, while 385 counters were unchanged, 761 untraded and 18 others suspended. Turnover decreased to 5.23 billion units worth RM3.17 billion from 5.84 billion units worth RM3.59 billion on Tuesday. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the regional equities market was mostly in the red on Wednesday. “The anticipation for the US rate cut in March received a backlash as a Federal Reserve o...

Market Daily Report: Bursa ends lower in tandem with regional peers

KUALA LUMPUR (Jan 17): Bursa Malaysia ended lower on Wednesday in tandem with its regional peers, jittered by uncertainties over the US interest rates path as well as the health of China’s economy after the release of its 2023 gross domestic product (GDP), a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.66 points to 1,491.21 from Tuesday's close of 1,493.87. The KLCI opened 1.98 points easier at 1,491.89 and moved between 1,487.52 and 1,494.32 during the trading session. On the broader market, decliners thumped gainers 832 to 265, while 385 counters were unchanged, 761 untraded and 18 others suspended. Turnover decreased to 5.23 billion units worth RM3.17 billion from 5.84 billion units worth RM3.59 billion on Tuesday. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the regional equities market was mostly in the red on Wednesday. “The anticipation for the US rate cut in March received a backlash as a Federal Reserve of...

Market Daily Report: Bursa ends lower on profit taking

KUALA LUMPUR (Jan 16): Bursa Malaysia ended lower on Tuesday on profit taking in tandem with its regional peers, a retracement after closing above the 1,500 psychological barrier on Tuesday, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.24 points to 1,493.87 from Monday's close of 1,501.11. The KLCI opened 0.72 of a point easier at 1,500.39 and moved between 1,492.4 and 1,503.73 during the trading session.  On the broader market, decliners thumped gainers 775 to 324, while 406 counters were unchanged, 712 untraded and 19 others suspended Turnover increased to 5.84 billion units worth RM3.59 billion from 4.98 billion units worth RM3.13 billion on Monday. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the local bourse’s performance was in tandem with the regional market performance whereby most bourses were in the red. "In a grand scheme of things, Bursa Malaysia has performed well with the FBM KLCI flirting aroun...

Market Daily Report: Bursa breaks 1,500 key level, KLCI highest since August 2022

KUALA LUMPUR (Jan 15) : Bursa Malaysia continued its upbeat momentum to end higher on Monday on broad-based buying support, with the barometer index closing above the 1,500 psychological barrier last seen in August 2022, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.77 points to 1,501.11 from last Friday's (Jan 12) close of 1,487.34. The last time the key index was above the 1,500 level was on Aug 30, 2022 when it closed at 1,512.05. The benchmark index opened 0.94 of a point better at 1,488.28 and moved between 1,487.81 and 1,501.86 during the trading session.  On the broader market, gainers beat decliners 575 to 456, while 419 counters were unchanged, 769 untraded and 20 suspended. Turnover increased to 4.98 billion units worth RM3.13 billion from 4.08 billion units worth RM2.84 billion on Friday. Rakuten Trade equity research vice president Thong Pak Leng said the local bourse also tracked the positive performance of regional peers, as China on ...

Market Daily Report: KLCI ends at intraday high, Bursa up for the week

  KUALA LUMPUR (Jan 12): Bursa Malaysia closed the week on a positive note, as the key index settled at its intraday high on Friday, despite a weaker performance in most regional markets, with buying mainly focused on utilities as well as financial services stocks.  YTL Power International Bhd increased 31 sen to RM3.68 a share, YTL Corp Bhd added 12 sen to RM2.36, and Malayan Banking Bhd (Maybank) rose six sen to RM9.06. These stocks lifted the composite index by a combined 7.53 points.  At 5pm on Friday, the FBM KLCI had risen 4.34 points to 1,487.34, from Thursday's close at 1,483.00. The benchmark index opened 0.24 of a point firmer at 1,483.24 on Friday morning, and hit an intraday low of 1,482.02 in the mid-morning session. In the broader market, gainers beat decliners 492 to 486, while 445 counters were unchanged, 796 untraded, and 29 others suspended. Turnover declined to 4.0...

Market Daily Report: Bursa closes lower ahead of US CPI data

KUALA LUMPUR (Jan 11): Bursa Malaysia took a breather to end at an intraday low on Thursday, dragged down mainly by the consumer products and services as well as industrial products and services sectors, ahead of the release of US consumer price index (CPI) data later in the day.  Genting Malaysia Bhd lost 17 sen to RM2.68, Petronas Chemicals Group Bhd slid 12 sen to RM6.88, Genting Bhd eased 19 sen to RM4.68, and Press Metal Aluminium Holdings Bhd was eight sen lower at RM4.82. These stocks pulled down the composite index by a combined 5.53 points.  At 5pm, the FBM KLCI had edged down by 3.86 points to 1,483.00, from Wednesday’s close at 1,486.86. The benchmark index opened 0.29 of a point better at 1,487.15, and thereafter moved to its highest level of 1,492.44 in the early morning session. On the broader market, decliners beat gainers 568 to 406, while 447 counters were unchanged, 797 untraded, and 29 others suspended. ...

Market Daily Report: Bursa ends lower ahead of US CPI data

KUALA LUMPUR (Jan 10): Bursa Malaysia reversed its gains on Tuesday to end lower on Wednesday, in sync with the downbeat regional market performances, weighed down by cautious sentiments ahead of the release of the US consumer price index (CPI) data on Thursday. At 5pm, the FBM KLCI slid 11.97 points to 1,486.86 from Tuesday's close of 1,498.83. The benchmark index opened 1.03 points weaker at 1,497.8 and moved between 1,486.72 and 1,497.8 throughout the day. On the broader market, decliners led gainers 588 to 359, while 497 counters were unchanged, 775 untraded and 20 others suspended. Turnover declined to 4.97 billion units worth RM2.84 billion from 6.44 billion units worth RM3.77 billion on Tuesday. SPI Asset Management managing partner Stephen Innes said Asian equity markets, including Bursa Malaysia, have been partly influenced by the struggles of the Hang Seng Index, the Dow Jones Industrial Average, the Nasdaq and the S&P 500. He said sentiments on the global ...

Market Daily Report: Bursa extends gains to end higher for fifth consecutive day

KUALA LUMPUR (Jan 9): Bursa Malaysia continued its recent bullish streak, ending higher on Tuesday for the fifth straight session with buying activities mainly on banking, telecommunication and consumer stocks while profit-taking was seen on utility stocks. The barometer index had increased by 45.73 points over the five days. At 5pm, the FBM KLCI climbed 0.21%, or 3.13 points to 1,498.83 from Monday's close of 1,495.7. The benchmark index opened 1.47 points firmer at 1,497.17 and moved between 1,496.84 and 1,503.93 throughout the trading session. However, in the broader market, decliners outnumbered gainers 605 to 410 while 475 counters were unchanged, 729 untraded and 19 others suspended. Turnover declined to 6.44 billion units worth RM3.77 billion from 6.96 billion units worth RM4.21 billion on Monday. Rakuten Trade equity research vice president Thong Pak Leng said key regional bourses closed higher as well as technology stocks surged after a tech-led rally on Wall St...

Market Daily Report: Bursa ends higher for fourth consecutive day

KUALA LUMPUR (Jan 8): Bursa Malaysia saw follow-through buying from last week with the FTSE Bursa Malaysia KLCI (FBM KLCI) ending broadly higher for the fourth consecutive day on Monday, led by construction and energy stocks. At 5pm, the KLCI increased 0.54% or 8.09 points to 1,495.70 from last Friday’s close of 1,487.61. The benchmark index opened 0.99 of a point better at 1,488.6, its intraday low, and moved in an upward trajectory to its intraday high of 1,498.52 in mid-afternoon before retreating towards closing.  On the broader market, gainers beat losers 494 to 448, while 583 counters were unchanged, 695 untraded, and 19 others suspended. Turnover surged to 6.96 billion units worth RM4.21 billion from 6.62 billion units worth RM3.72 billion last Friday.  Rakuten Trade equity research vice president Thong Pak Leng said the KLC ended in the positive territory, thanks to strong foreign buying. Meanwhile, he said key regional indices closed mixed, with heavy sellin...

Market Daily Report: Bursa up on strong buying momentum, CI highest in almost a year

KUALA LUMPUR (Jan 5): Bursa Malaysia continues its upward trajectory on Friday to end at its highest level in almost a year on strong buying in heavyweights led by YTL Corp Bhd and YTL Power International Bhd, said an analyst.  The key regional indices also ended higher as bargain hunting emerged following the recent sell-off with a focus on financial stocks. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) soared 0.7% or 10.35 points to settle at its intraday high of 1,487.61 from Thursday’s close of 1,477.26. The benchmark index opened 0.37 of a point lower at 1,476.89 and reached a low of 1,476.85 in the early morning session before gaining steam to trend upwards throughout the rest of the day.  On the broader market, gainers trounced losers 745 to 351, while 417 counters were unchanged, 707 untraded, and 17 others suspended. Friday's turnover hit another high in over a year at 6.62 billion units worth RM3.72 billion compared with 6.37 billion units valued at...

Market Daily Report: Bursa surges 1% with turnover at over a year's high of 6.37 bil units

KUALA LUMPUR (Jan 4): Bursa Malaysia continues its uptrend at the close on Thursday due to increased interest from retail and repositioning of portfolios by institutional and foreign investors, analysts said.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 1.01% or 14.89 points to 1,477.26 from Wednesday’s close of 1,462.37. Turnover surged to 6.37 billion units worth RM3.82 billion from 5.63 billion units worth RM3.12 billion on Wednesday. Thursday's turnover was the highest in over a year, since Nov 24, 2022 when the market recorded 6.86 billion units turnover.  The benchmark index opened 0.48 of a point higher at 1,462.85 and moved between 1,461.03 and 1,477.56 throughout the trading session. On the broader market, gainers beat losers 630 to 424, while 444 counters were unchanged, 722 untraded and 16 others suspended. Regionally, the Jakarta Stock Exchange also went up 1.11%, while the Philippine Stock Exchange rose 1.59%, as foreign funds poured into Southea...

Market Daily Report: Bargain hunting pushes Bursa to higher close, KLCI up 0.63%

KUALA LUMPUR (Jan 3): Bursa Malaysia closed higher on Wednesday as bargain hunting emerged following Tuesday's sell-down, despite the mostly lower regional market performance, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 0.63% or 9.27 points firmer to 1,462.37 from Tuesday’s close of 1,453.1. The benchmark index, which opened 0.56 of a point easier at 1,452.54, moved between 1,450.17 and 1,465.69 throughout the trading session.  On the broader market, gainers outpaced losers 715 to 352, while 382 counters were unchanged, 779  untraded and 22 suspended. Turnover surged to 5.63 billion units worth RM3.12 billion from 4.91 billion units valued at RM2.00 billion the previous day. Rakuten Trade equity research vice president Thong Pak Leng said buying interest were also seen in small-cap stocks, particularly in the healthcare, property, and utilities sectors. 

Market Daily Report: Bursa ends marginally lower on first trading day of 2024

  KUALA LUMPUR (Jan 2): Bursa Malaysia closed marginally lower on Tuesday, the first trading day of the year, due to a lack of buying interest amid subdued market performance across the region, said a dealer. Rakuten Trade equity research vice president Thong Pak Leng said the key regional indices were mostly lower following the negative cue from Wall Street last Friday (Dec 29).  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.1% or 1.56 points easier to 1,453.1 from last Friday’s close of 1,454.66. The benchmark index which opened 2.46 points weaker at 1,452.2, moved between 1,446.36 and 1,453.56 throughout the trading session.  In the broader market, gainers however surpassed decliners 512 to 463, while 399 counters were unchanged, 854 untraded and 22 others suspended. Turnover went up to 4.91 billion units worth RM2 billion from 4.67 billion units valued at RM2.96 billion on Friday. Thong further said that, simultaneously, increasing te...