China shares bounce back from Monday's rout thanks to upbeat sentiment

China shares recovered some ground from Monday's rout on Tuesday, thanks to rosy market sentiment over the country's resilient economy and strong control over coronavirus outbreak.

Worldwide stock markets took a pounding on Monday as oil plunged 30 percent after an all-out, aggressive price war erupted between two of the world's biggest producers, Saudi Arabia and Russia.  

The 10-year U.S. Treasury yield tumbled down through 0.5 percent to a record low, about half the level of just a week ago, though it rose back to be last at 0.6662 percent on Tuesday amid the stimulus chatter. 

But it merits attention that China suffered a minor defeat compared to other major economies. For instance, the Dow had ended the day with its biggest point drop in history, closing Monday down 2,014 points, or 7.8 percent, marking its most lackluster day since the 2008 financial crisis.

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