China Stocks Rebound With Biggest Gain Since 2016, Yuan Climbs

China’s Finance Ministry on Friday responded to Washington’s imposition of tariffs, saying the U.S. had ignited the largest trade war in history and accusing the Trump administration of bullying. Deustche Bank said that China’s “rational and refrained” remarks were a positive gesture. “The trade war is far from over but a major downside risk -- China punishing U.S. firms doing business in China -- has become less likely,” economists led by Zhiwei Zhang wrote in a note.