China stocks rally after Liu confirms trip to US

China stocks began to make a comeback during afternoon trading on Tuesday after Beijing said Vice Premier Liu He will visit Washington for the eleventh round of trade talks, following days of uncertainty, reported the Financial Times.

The announcement fueled a late rally in Chinese shares, which had tumbled 5.6% on Monday. The Shanghai Composite Index closed 0.7% higher, while Hong Kong’s Hang Seng rose 0.4%.

The Ministry of Commerce said in a statement that Liu will travel to Washington from May 9 to 10 for talks with his US counterparts, easing concerns following an escalation of trade tensions between the US and China.