Chinese markets rebound, Shanghai composite index jumps 2.5%

Asian markets mostly staged a smart rebound on Tuesday after a massive sell-off a day earlier. Japanese markets that were closed on Monday however traded in negative territory.

China's Shanghai Composite Index jumped 2.5 percent to finish trading at 3,240.94. The day's trading ranged between 3,245.22 and 3,159.43. The Shenzhen Component Index closed 3.8 percent higher at 10,165.17. The gain is attributed to reports of a gradual hike in tariffs by the incoming U.S. administration.

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