KUALA LUMPUR (Feb 10): Malaysian shares and the ringgit may take the cue from US President Donald Trump's "phenomenal" tax plan comment, which led to expectation that he will soon unveil expansionary fiscal policies for the US economy. Such sentiment led to higher US inflation and interest rate expectation, hence, the overnight US dollar and bond yield gains. On Thursday, US shares rose in overnight trades. Reuters reported that Wall Street stocks surged to record highs on Thursday and the US dollar and bond yields rose after Trump said he would release a "phenomenal" tax plan in the next few weeks. Investors have been waiting for details on Trump's election campaign pledge to stimulate economic growth with large-scale fiscal stimulus through infrastructure spending and tax cuts.

Source: The Edge Markets February 09, 2017 23:48 UTC