KUALA LUMPUR (Jan 6): The FBM KLCI gained 15.67 points or 0.9%, while the ringgit strengthened as lower U.S. bond yields prompted investors to park their money in Asian markets. 
 
At 5pm, the KLCI closed at its intraday high at 1,675.49 points. The ringgit strengthened to 4.4725 against the U.S. dollar at 5:33pm.
  
Reuters reported Asian shares recovered to four-week highs on Friday as a surge in the dollar and its borrowing costs sparked by Donald Trump's election eased, with the U.S. 10-year yield slipping to one-month lows.

The 10-year U.S. Treasuries yield hit a one-month low of 2.344%, having fallen about 30 basis points from its two-year high of 2.641% touched on Dec 15. Investors also scaled back their expectations of the Fed's rate hikes this year, with Federal Funds rate futures pricing in two rate hikes, compared with two and a half at the peak in December.

In Malaysia today, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com that Malaysian equities might have been oversold in December 2016, due U.S. trade policy and interest rate uncertainty.

Wong said the KLCI had taken cognisance from possibility of a less hawkish U.S. interest rate policy, as the U.S. dollar had strengthened on expectation of U.S. rate hikes.

“Today, there is more clarity in terms of interest rate and their policy, plus oil price has been stable around US$55 per barrel. These were the factors that fueled KLCI in the past few days," he said.

Today, Bursa Malaysia saw 1.97 billion shares, worth RM1.96 billion traded.

There were 442 gainers versus 403 decliners.