China stocks near 3-week high as Sino-US trade truce sparks optimism
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China stocks hit their highest levels in nearly three weeks on Wednesday, lifted by optimism over progress in U.S.-China trade talks, though investors awaited further details on the framework agreed by the two countries. China's blue-chip CSI300 Index rose as much as 1.2%, hitting its highest level since May 23. The Hong Kong's benchmark Hang Seng index climbed up to 1%, reaching its strongest level since March 20. U.S. and Chinese officials said on Tuesday they had agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare-earths while offering little sign of a durable resolution to longstanding trade differences. "This is positive news to the market. At least now there's a bottomline that neither side is willing to cross," said Mark Dong, co-founder of Minority Asset Management. "Going forward, both sides will move toward reducing the trade imbalance....