Trade talks restart gives financial market reasons to be cheerful

Optimism is on the rise in the financial market after the leaders of China and the United States agreed to resume trade talks during the weekend. Policy observers said that it eased negative sentiment among investors and was an opportunity to reheat the global economy.

The message that the US decided not to add new tariffs on Chinese exports cheered investors in China's financial market on Monday. The CSI 300 index, a tracker of major Shanghai and Shenzhen-listed stocks, rose by 2.88 percent on Monday.

The onshore renminbi spot exchange rate gained more than 0.56 percent to 6.8286 per dollar during trading, its strongest since May 10. The offshore renminbi became the best performing currency in Asia on Monday morning.