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China: Shares end at more than 2-month high on trade truce relief

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Chinese shares ended at their highest level in more than two months on Monday, propelled by hopes of an end to the US-China trade war after the two countries agreed to restart negotiations and Washington said it would postpone further tariffs.

[SHANGHAI] Chinese shares ended at their highest level in more than two months on Monday, propelled by hopes of an end to the US-China trade war after the two countries agreed to restart negotiations and Washington said it would postpone further tariffs.

While there were no signs of progress on key sticking points in the trade dispute, the promise of more talks and concessions offered by US President Donald Trump, including an easing of restrictions on tech company Huawei, lifted the benchmark Shanghai Composite index 2.22 per cent to 3,044.90 points.

It was the highest close for the index since April 30.

The blue-chip CSI300 index jumped 2.88 per cent to its highest close since April 25, despite fresh signs of domestic economic weakness in factory activity surveys.

The smaller Shenzhen index rose 3.46 per cent by the close, and the start-up board ChiNext Composite index added 3.75 per cent. Hong Kong markets were closed for a holiday.

REUTERS

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