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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.

Trump Floats New Tariffs on China, India to Pressure Russia

  Key Takeaways: Trump told EU officials he is prepared to impose  new tariffs on China and India , but only in coordination with European nations. Measures under discussion also include  sanctions on Russia’s shadow fleet, banks, and oil majors . The proposal comes after Moscow escalated attacks in Ukraine and missed Trump’s deadline for peace talks. Tariffs as Leverage President Donald Trump signaled a willingness to levy sweeping tariffs on China and India to force Russian President Vladimir Putin into negotiations over Ukraine. According to people familiar with the talks, Trump told EU leaders in Washington the US would mirror European tariffs if member states agreed. The approach highlights a challenge: several EU nations, notably Hungary, have previously blocked stricter sanctions on Russia’s energy sector. Any EU measures would require unanimity. Trump has already  doubled tariffs on Indian goods to 50%  in response to New Delhi’s continued purchases of R...

Global Rate Cuts Sweep the World — But the Fed Isn’t Budging

Trump wants cuts. Markets want clarity. The Fed says: not so fast. While central banks around the globe are  slashing interest rates  in response to tariff turmoil and cooling inflation, the  Federal Reserve remains cautious  — resisting political pressure from President Trump to loosen monetary policy. Key Takeaways from Bloomberg’s Global Rate Watch : 🔹  Fed (US): ➡ Current: 4.5% | Forecast: 4.25% ➡  One rate cut expected —possibly in Q4. ➡ Trump wants action, but policymakers are wary of inflation risks from tariffs. 🔹  ECB (Europe): ➡ Forecasts two more cuts this year to 1.5%. ➡ Tariff threats on pharma exports weigh on eurozone growth. 🔹 BOJ (Japan): ➡ Could raise rates  slightly  amid inflation and wage growth, but politics may delay action. 🔹  BOE (UK): ➡ Expected to cut rates twice by year-end as job markets weaken and inflation stays sticky. 🔹  BOC (Canada): ➡ Two rate cuts likely this year due to softening growth. ...

Global Markets Rally on Ukraine Peace Hopes, But Inflation Clouds Fed Outlook

Global stocks surged on optimism over a possible Ukraine-Russia peace deal , while  bond markets sold off as US inflation fears dampened hopes for Fed rate cuts . Meanwhile,  oil prices slid  and  gold remained near record highs as investors weighed the impact of geopolitical and economic uncertainties. 🌍 Stock Markets Gain on Peace Optimism 📈  US & European stock futures rallied  on renewed hopes that  US-led peace talks  could bring an end to the  Ukraine-Russia war . 📈  Asia-Pacific markets followed suit , with Japan’s  Nikkei up 1.1%  and  Hong Kong’s Hang Seng gaining 1% , hitting a  four-month high . 💬  Kyle Rodda (Capital.com):   "Optimism might be premature. Ukraine may struggle to accept concessions like giving up NATO ambitions and ceding territory." 💰 Inflation & Fed Rate Cut Hopes Fade 📌  US consumer prices rose by the most in nearly 1.5 years in January , with  core infla...

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...

Russia Proposes BRICS Payment System to Reduce US Financial Dominance

Russia is pushing for the creation of a new multicurrency payment system within the BRICS group to reduce reliance on the US-dominated global financial system. This initiative comes as Russia seeks to protect its economy from Western sanctions and develop alternatives to traditional cross-border payment networks like SWIFT . A report prepared by Russia’s Finance Ministry , the Bank of Russia , and Moscow-based consultancy Yakov & Partners outlines proposals for the BRICS nations (Brazil, Russia, India, China, and South Africa) to conduct transactions in local currencies and establish direct links between central banks . The goal is to create a payment system that shields participants from extraterritorial sanctions and ensures their financial sovereignty. The proposal also includes the establishment of trade centers for key commodities such as oil, natural gas, grain, and gold to further strengthen economic cooperation within the bloc. In addition, Russia is advocating fo...

Russia to Raise Taxes on Imported Cars While Boosting Domestic Production

Russia is set to increase taxes on imported cars starting in 2025 by doubling the scrappage fees that all car producers must pay, as outlined in draft budget documents released on Monday. This move is part of a broader strategy to enhance state support for locally manufactured vehicles. Since February 2022, Russia's automotive market has undergone significant changes, with Western carmakers withdrawing and Chinese manufacturers stepping in to fill the void. The draft budget indicates that Russia anticipates nearly doubling its revenues from car recycling in 2025, projecting an increase from 1.08 trillion roubles to 2.01 trillion roubles . Increased Scrappage Fees and Support for Domestic Production The scrappage fees for imported vehicles are expected to rise to 1.14 trillion roubles next year, up from 680 billion roubles . For domestically produced cars, the fees will increase to 871.5 billion roubles from nearly 400 billion roubles this year. Both domestic manufacturers and ...

Oil rally boosted but has it bottom?

Has oil bottom? The oil price seems to have bottom after a 20-month collapse as the oil market shown some strength in its rally to go up as much as 6% on Monday. Speculation about the falling U.S shale output has been the main drive for the rally. Friday's U.S rig count data has been one of the reason for the market reaction as prices began the week with a rebound in Asian trade. The data points to a drop in the number of oil drilling rigs in operations to a December 2009 low after there have been nine consecutive weeks of cut. The statement by International Energy Agency, the world's oil consumer body in regards to U.S shale oil production to fall by 600,000 barrels per day this year and another 200,000 barrels per day in 2017 also helped the oil rally. U.S. crude futures settled up by $1.84, or 6 percent, at $31.48 a barrel, rallying above $32 at one point. Futures of Brent finished up $1.68, or 5 percent, at $34.69. HAS OIL BOTTOM? This is the difficult questio...

Oil madness

The oil madness is causing haywire in the market. Just look at the headlines of the financial news, journals, blogs, or research reports and you'll see how volatile the market is because of the oil price. Here's a recap of some of the causes of the oil movement recently... 1) Oil price gain as news on Russia-Saudi meeting to discuss on oil production were released. The subsequent decision to lead a freeze production encouraged the oil rally. 2) Oil price dropped as concern over the participation of Iran. If Iran chose not to join in the production freeze, it'll not be sufficient to control the overwhelming supply of oil and thus the oil price's drop might continue. 3) Oil rally again once Iran made a remark on "supporting" the Russia-Saudi led production freeze even though the market was not sure the "support" equivalent to "action". 4) Oil eases again now that a U.S. government report showing a rise in crude stocks underlined...

Saudi to meet Russia news prompt Oil to advance above $30

The financial market is being very volatile, partly influenced by the oil price's volatility. But unlike last week, we have a more positive news circulating the financial world....Saudi to meet Russia in Doha on Tuesday, to discuss the market. Saudi meeting Russia to talk about oil this Tuesday could be the salvation This good news definitely is shared by the global market as most markets seen an uptrend after a bad week last week.  Oil advances above $30 on the news Saudi Arabia’s Oil Minister Ali al- Naimi will speak with his Russian counterpart Alexander Novak in the Qatari capital. This is an interesting development given that Iran is getting into the game as well. Oil is still down about 17 percent this year BP Plc predicts the market will remain “tough and choppy” in the first half as it contends with a surplus of 1 million barrels a day. Speculators’ long positions in West Texas Intermediate through Feb. 9 rose to the highest since June, according to data from ...

Russia sees pain with higher prices for everything

Well, the oil price drop definitely hurt Russia.  Then, we have the sanctions. We also have the sharp drop in the Russia's Rubble currency. What's next? HIGHER PRICES FOR EVERYTHING! The Russians definitely are feeling the pinch now, as they are facing higher prices for everything. It's more expensive to buy eggs, dairy products, poultry and vegetables now. Apple halted the online store there, just three weeks after an increase in the price of an iPhone 6 for about 25% to 39,990 rubles...even then, the value of that iPhone sales when converted to dollar already has plummeted to about $585 from $847. The same thing goes to McDonald's. The company increase the price of Big Mac by 2.2% to about 94 rubles....only to see the value drop from $1.77 to $1.35 in the intervening days.  Renault-brand cars have been increased by 8% in Russia. Now, most Russians believe they have to snap up consumer goods before prices continue to go up. ...