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CGS-CIMB positive on resignation of FGV CEO

KUALA LUMPUR: CGS-CIMB said news of the resignation of FGV Holdings Bhd president and CEO Datuk Zakaria Arshad was a “slight positive” for FGV as it appears that the matter has ended amicably.

China and US plunge deeper into trade war

WASHINGTON/BEIJING: China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion (45.67 billion pounds) of U.S. products to its import tariff list in retaliation for President Donald Trump's planned levies on $200 billion worth of Chinese goods.

Shipping containers, including one labelled "China Shipping," are stacked at the Paul W. Conley Container Terminal in Boston, Massachusetts, U.S. - Reuters filepic

Wall St. bounces back as investors shrug off trade tensions

NEW YORK: Wall Street rebounded on Tuesday in a broad-based rally as investors brushed aside intensifying trade rhetoric between the United States and China. All three major U.S. indexes closed higher following Monday's sell-off.

The Dow Jones Industrial Average rose 184.84 points, or 0.71 percent, to 26,246.96, the S&P 500 gained 15.51 points, or 0.54 percent, to 2,904.31 and the Nasdaq Composite added 60.32 points, or 0.76 percent, to 7,956.11. (Picture shows a trader working on the floor of the NYSE yesterday. - Reuters)

WCT boosted by new RM1.77bil contract

PETALING JAYA: WCT Holdings Bhd shares closed higher on news that it had bagged a contract worth RM1.77bil for construction works relating to the proposed Pavilion Damansara Heights commercial development.

At 5pm yesterday, WCT, which is principally involved in engineering, construction, property development, saw its shares close seven sen up at 93 sen.  Analysts are positive on the contract win, given the cautious outlook on the construction sector as the government scales back on public projects.

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