In Hong Kong and Beijing, China's state asset regulatory body stated on Tuesday its support for government-owned companies to increase their holdings and conduct share buybacks in response to the growing global trade tensions. This move aims to alleviate the impact of the trade war on the country's stock market. Some Chinese state-owned firms, like Sinopec, have already revealed plans for share repurchases to boost investor confidence. The government's asset management commission will provide guidance to state-owned enterprises and their listed subsidiaries to protect shareholders' rights and enhance market confidence in these companies. Amid escalating trade tensions, with U.S. President Donald Trump imposing high tariffs on Chinese goods, China is taking measures to stabilize its economy amidst market uncertainties. Trump's recent threats of additional tariffs on Chinese imports are adding pressure, but China is striving to navigate these challenges. Although the Shanghai Composite Index experienced a significant drop, it showed signs of recovery on Tuesday after previous declines.