No direct confrontation: Investors voice relief at Xi's speech

HONG KONG: For investors and analysts watching Chinese President Xi Jinping’s landmark economic speech Tuesday, the mood was one of relief.

Asian stocks and U.S. futures jumped in Asian morning trading as Xi called for an upholding of the multilateral trade system and said dialogue was the way to resolve disputes, diffusing trade tensions with the U.S. In his keynote address to the Boao Forum for Asia, Xi vowed to open sectors of China’s economy from banking to auto manufacturing, increase imports and expand protection to intellectual property.