KUALA LUMPUR, March 14 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) ended the week slightly higher, in line with regional indices despite the weaker performance on Wall Street overnight. At 5 pm, the FBM KLCI rose 2.12 points or 0.14 per cent to 1,512.15 from Thursday’s close of 1,510.03. The market bellwether opened 10.08 points lower at 1,499.95, and moved between 1,493.29 and 1,516.25 throughout the day. On the broader market, gainers outpaced losers with 680 to 292, while 437 counters were unchanged, 1,009 untraded, and 13 suspended. Turnover was marginally lower at 3.24 billion units worth RM2.5 billion from 3.25 billion units worth RM2.90 billion on Thursday.
Japan’s wholesale inflation surged to 4.0% in February, driven by rising raw material costs, keeping market expectations alive for a potential interest rate hike by the Bank of Japan (BOJ).
Key Highlights:
Corporate Goods Price Index (CGPI): The rise in the CGPI, which tracks the price companies charge each other for goods and services, matched market forecasts. Although it was a slowdown from January’s 4.2% year-on-year increase, it remains elevated.
Yen-based Import Prices: The yen-based import prices dropped by 0.7% in February compared to the previous year, reversing the 2.3% increase in January.
Bank of Japan’s Position:
Monetary Policy: Following the end of a decade-long monetary stimulus in 2024, the BOJ raised short-term interest rates in January to 0.5% from 0.25%, signaling its confidence that Japan is on track to sustainably reach its 2% inflation target.
Future Rate Hikes: Given the sustained rise in consumer inflation and Japan's moderate economic recovery, the BOJ has hinted that further rate hikes could be on the horizon, depending on economic conditions.
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