Chinese stocks closed weaker on Tuesday due to the escalating Sino-U.S. trade war, though prices recovered from early lows on suspected state-backed buying and comments from U.S. President Donald Trump that raised hopes of a deal between the two sides.
The Shanghai Composite ended 0.7% lower at 2,883.61 points, while the blue-chip CSI300 eased 0.6 %. Both indexes rebounded after opening down 1%, hovering in positive territory at times.
The recovery was aided by “national team” purchases, according to some analysts, referring to state-backed institutions.
Source : Reuters