KUALA LUMPUR (March 13): The FBM KLCI rose 4.34 points or 0.3% on late buying of index-linked Genting Bhd shares and as investors evaluated the outlook of the US economy and interest rate direction. At 5pm, the KLCI closed at 1,721.92 points while Genting shares rose 13 sen to RM9.43. The rate hike expectation is based on anticipation of a stronger US economy this year. "Trading mood has been rising, taking cue from the strong US job numbers last week, coupled with strong buying interest in Genting and Tenaga Nasional Bhd shares. In Malaysia, Malayan Banking Bhd's (Maybank) foreign exchange research team wrote in a note today that prospect of the March US rate hike had been priced.

Source: The Edge Markets March 13, 2017 10:10 UTC