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Wall Street closes up, investors optimistic on China trade

NEW YORK: U.S. stocks closed up on Wednesday afternoon, though well below their session highs as investors pulled back in the last few minutes of trading despite optimism about U.S.-China trade relations and some reassuring signs in British politics.

The Dow Jones Industrial Average rose 157.03 points, or 0.64 percent, to 24,527.27, the S&P 500 gained 14.29 points, or 0.54 percent, to 2,651.07 and the Nasdaq Composite added 66.48 points, or 0.95 percent, to 7,098.31.

TH plans to put a cap on each depositor’s fund

KUALA LUMPUR: Lembaga Tabung Haji (TH) is looking to put a cap on each depositor’s fund as one of the measures to reduce government liability and exposure of the investors.

Group managing director and chief executive officer Datuk Seri Zukri Samat (pic) said the move to limit individual deposit at a suitable level was part of TH’s business restructuring plan which is awaiting board approval.

AirAsia, AAX shares drop with MAHB suit

KUALA LUMPUR: Shares of AirAsia Bhd and AirAsia X Bhd (AAX) fell on Wednesday following news that Malaysia Airports Holdings Bhd (MAHB) is suing the two carriers.

Asia stocks up on Sino-US trade hopes, sterling nurses losses

SYDNEY: Asian stock markets edged ahead on Wednesday as U.S. President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with talk of an imminent party coup against British Prime Minister Theresa May.

Markets were careful to not get too optimistic and MSCI's broadest index of Asia-Pacific shares outside Japan firmed a modest 0.27 percent.  Japan's Nikkei rose 1.5 percent, while E-Mini futures for the S&P 500 were up 0.07 percent.