China's stock markets rallied on Tuesday as President Xi Jinping's vow to further open up the economy soothed fears of a trade war with the United States.
The blue-chip CSI300 index rose 1.9 percent, to 3,927.17 points, while the Shanghai Composite Index gained 1.7 percent to 3,190.32, in their best single-day performance in seven weeks.
Xi pledged on Tuesday to open the country’s economy further to foreign investors and lower import tariffs on products including cars, in a speech seen as an attempt to defuse an escalating trade dispute with Washington.
While most of the pledges were reiterations of long-promised measures and were short on specifics, markets believed they signalled some room for a possible compromise with Washington.
Source : Reuters