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 (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 local bourse was supported by buying mainly in the energy, healthcare and utilities counters.
“The FBM KLCI finished marginally higher with broad-based buying,” he added.
He said that the market sentiment was partly influenced by the Chinese government’s commitment to provide additional economic support, which is expected to enhance liquidity in the banking system.
The People's Bank of China will slash the reserve requirement ratio by 50 basis points, a move that will release some US$140 billion (RM660.98 billion) of cash to support the economy.
Regionally, Thong said the key indices ended mixed with profit taking seen in Japan and Hong Kong after recording strong gains recently.
Japan’s Nikkei 225 fell 1.34% to 35,751.07, Hong Kong’s Hang Seng Index slid 1.6% to 15,952.23, while Singapore's Straits Times Index increased 0.38% to 3,159.53 and China’s SSE Composite Index rose 0.14% to 2,910.22.
Meanwhile, investors are awaiting some key readings on the US inflation later on Friday and the upcoming US Federal Reserve meeting next week to gauge the outlook for the interest rate, he added.
Among the heavyweights, Maybank Bhd perked four sen to RM9.14, CIMB Group Holdings Bhd rose six sen to RM6.18, Tenaga Nasional Bhd gained two sen to RM10.54, IHH Healthcare Bhd added a sen to RM6.08, while Public Bank Bhd, CelcomDigi Bhd and Hong Leong Bank Bhd were flat at RM4.37, RM4.25 and RM19.18 respectively.
Petronas Chemicals Group Bhd shed five sen to RM6.70.
Malaysian Resources Corp Bhd (MRCB) was the most actively traded stock, gaining seven sen to 65 sen with 267.25 million shares changing hands on news that the property developer had submitted a proposal to bid for the Kuala Lumpur-Singapore high-speed rail (HSR) project.
Similarly, Berjaya Land Bhd increased eight sen to 45.5 sen as its 70%-owned subsidiary, Berjaya Rail Sdn Bhd, was reportedly teaming up with MRCB, IJM Construction Sdn Bhd, and Keretapi Tanah Melayu Bhd to bid for the mega project.
As for other active stocks, Widad Group Bhd slipped 1.5 sen to 16.5 sen, YNH Property Bhd went up six sen to 71.5 sen, while Dnonce Technology Bhd shed 3.5 sen to 12.5 sen.
ACE Market debutant KJTS Group Bhd surged 23 sen or 85.19% to 50 sen over its initial public offering price of 27 sen with 212.75 million shares transacted.
On the index board, the FBM Emas Index rose 24.59 points to 11,232.79, the FBMT 100 Index increased 26.05 points to 10,885.38, and the FBM 70 Index advanced 78.8 points to 15,283.21.
The FBM Emas Shariah Index shed 3.63 points to 11,289.66 and the FBM ACE Index lost 19.29 points to 4,842.13.
Sector-wise, the Financial Services Index expanded 59.1 points to 16,825.7, the Energy Index bagged 8.89 points to 878.55, and the Property Index gained 4.55 points to 924.42.
However, the Plantation Index fell 26.04 points to 7,165.72 and the Industrial Products and Services Index eased 0.91 of a point to 173.92.
The Main Market volume increased to 3.12 billion units worth RM3.05 billion from 2.57 billion units worth RM2.56 billion on Wednesday.
Warrants turnover dwindled to 798.71 million units valued at RM115.58 million versus 804.39 million units valued at RM110.95 million previously.
The ACE Market volume widened to 990.69 million shares worth RM249.75 million compared with Wednesday's 950.38 million shares worth RM198.37 million.
Consumer products and services counters accounted for 437.58 million shares traded on the Main Market, industrial products and services (619.41 million); construction (229.79 million); technology (167.93 million); SPAC (nil); financial services (102.59 million); property (882.03 million); plantation (32.72 million); REITs (58.16 million), closed/fund (85,300); energy (210.43 million); healthcare (131.28 million); telecommunications and media (66.98 million); transportation and logistics (67.24 million); and utilities (115.66 million).
Source: The Edge
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