China's stock index has best day in 7 weeks after Chinese president eases fears of trade war

China's stock index has best day in 7 weeks after Chinese president eases fears of trade war

By Masayuki KitanoXANGAI (Reuters) - China's stock markets advanced on Tuesday with President Xi Jinping's pledge to further open the economy, calming tem ...

By Masayuki KitanoSHANGHAI (Reuters) - China's stock markets advanced on Tuesday with President Xi Jinping's promise to further open the economy, calming fears of a trade war with the United States.The CSI300 index, which brings together the largest listed companies in Shanghai and Shenzhen, advanced 1.93 percent, while the Shanghai index rose 1.67 percent, the best daily performance in seven weeks.The Chinese president on Tuesday pledged to further open the country's economy to foreign investors and lower import tariffs on products such as cars, in a speech seen as an attempt to calm the trade dispute with the United States.While most of the promises are reiterations of previously announced reforms, Xi's statements sent stocks and the dollar up on expectations of a deal that could avert a trade war."His statements seem to have covered all the major issues raised by the US, including intellectual property and the liberalization of domestic markets," said Yoshinori Shigemi,...


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