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, May 27 (Bernama) -- Bursa Malaysia gave up earlier gains to close marginally lower today despite the improvement in regional markets as local investors continued to take profit, said an analyst.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.13 points, or 0.07 per cent, to 1,618.27 from last Friday's close of 1,619.40.
The benchmark index, which opened 1.27 points higher at 1,620.67, fluctuated between 1,617.98 and 1,622.40 throughout the trading session.
On the broader market, decliners outnumbered gainers 682 to 530, with 486 counters unchanged, 709 untraded and 25 suspended.
Turnover increased to 5.64 billion units worth RM3.92 billion from last Friday's 5.61 billion units worth RM4.58 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional indices finished mostly higher with heavy buying on computer chip and semi-conductor stocks after a strong profit report from Nvidia.
Besides, he said China and Hong Kong markets were further boosted by Beijing’s recent stimulus measures.
Regionally, Japan’s Nikkei 225 rose 0.66 per cent to 38,900.02, Hong Kong’s Hang Seng Index increased 1.17 per cent to 18,827.35, South Korea’s Kospi jumped 1.32 per cent to 2,722.99, and Shanghai's SSE Composite Index garnered 1.14 per cent to 3,124.04.
“As for the local bourse, we believe bargain-hunting activities will emerge buoyed by strong corporate earnings and stability of the local economy.
“Hence, we anticipate the benchmark index to trend within the range of 1,615-1,635 for the week with immediate resistance at 1,635 and support at 1,610,” he told Bernama.
Among the heavyweights, Maybank edged up one sen to RM9.99, Tenaga Nasional climbed 12 sen to RM13.22, CIMB gained two sen to RM6.90, while Public Bank slid four sen to RM4.13 and Petronas Chemicals edged down six sen to RM6.87.
As for the actives, Dagang NeXchange and Powerwell improved two sen each to 47 sen and 48.5 sen respectively, AHB Holdings added one sen to 20 sen, and JCY International put on 6.5 sen to 51.5 sen, and Pegasus Heights was flat at half-a-sen.
Among the top gainers, Dutch Lady Milk Industries firmed 76 sen to RM33.76, Chin Hin Group rose 24 sen to RM3.44, Kluang Rubber Co (Malaya) increased 22 sen to RM6.48, Hong Leong Industries garnered 20 sen to RM12.00, and Vitrox Corp ticked up 18 sen to RM7.88.
Among the top losers, Nestle dipped 60 sen to RM127.40, Heitech Padu slipped 50 sen to RM1.92, Heineken Malaysia fell 26 sen to RM24.30, Malaysia Smelting Corp decreased 25 sen to RM2.95, and MSM Malaysia Holdings declined 24 sen to RM2.61.
Source: Bernama
Comments
Post a Comment