China praises 'successful' Xi-Trump meeting
Chinese shares ended at their highest level in more than two months on Monday, propelled by hopes of an end to the U.S.-China trade war.
BEIJING (Reuters) - China said on Monday (July 1) that agreements reached at the weekend s "successful" meeting between Chinese President Xi Jinping and U.S. President Donald Trump in Osaka, Japan have "set the direction for the next stage in the development of China-U.S. relations."
Xi and Trump held talks on the sidelines of the G20 summit on Saturday (June 29) and agreed for China and the U.S. to restart trade talks and Washington said it would postpone further tariffs.
Chinese shares ended at their highest level in more than two months on Monday, propelled by hopes of an end to the U.S.-China trade war.
While there were no signs of progress on key sticking points in the trade dispute, the promise of more talks and concessions offered by U.S. President Donald Trump, including an easing of restrictions on tech company Huawei, lifted the benchmark Shanghai Composite index 2.22% to 3,044.90 points. It was the highest close for the index since April 30. About 25.08 billion shares were traded on the Shanghai exchange, more than 120% of the market s 30-day moving average of 20.82 billion shares a day, and 38% higher than Friday s total of 18.14 billion shares.
