KUALA LUMPUR (March 2): The FBM KLCI soared 17.98 points or 1.1% after US shares rose to a record high on US President Donald Trump's planned US$1 trillion (RM4.45 trillion) infrastructure spending to support the US economy. In Malaysia today, the KLCI closed at 1,715.67 points. Trump on Tuesday said he wanted to boost the US economy with a "massive" tax relief and make a US$1 trillion effort on infrastructure, bets that have helped Wall Street scale new records since the November election. In Malaysia today, fund managers said Trump's proposed infrastructure spending would generate demand for raw materials and metals. "This will drive the demand for certain infrastructure spending, including raw materials and metals," Areca Capital Sdn Bhd CEO Danny Wong told the edgemarkets.com.

Source: The Edge Markets March 02, 2017 10:18 UTC