KUALA LUMPUR (Dec 19): The FBM KLCI closed 20.35 points or 1.24% higher today, helped by gains in index-linked stocks including Genting Malaysia Bhd and Sime Darby Plantation Bhd amid signs of fund managers' year-end window dressing.

At 5pm, the KLCI closed at 1,655.66. The KLCI had also risen after certain Asian share indices closed in positive territory.

In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that the stock market may be showing some signs of window dressing for the end of the year. "We've seen some stocks that have fallen over the last week or so but they have since staged a nice rebound," Pong said.

Across Bursa Malaysia, 1.87 billion shares were traded for RM1.89 billion. Top gainers included Genting Malaysia and Sime Darby Plantation. Genting Malaysia shares rose 23 sen to close at RM3.06 while Sime Darby Plantation added 33 sen to RM4.42.

Across Asian stock markets, gainers included Hong Kong's Hang Seng and South Korea's Kospi. Hang Seng closed 0.2% higher while Kospi gained 0.81%.

Reuters reported that Asian share markets played second string to bonds on Wednesday as a spectacular fall in the price of oil spurred speculation the US Federal Reserve might be done with tightening after its policy meeting later in the session.

It was reported that stocks were left in the dust by bonds as 10-year Treasury yields hit their lowest since August at 2.799%, testing a major chart level at 2.8%.