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Analysts say market confidence in yuan-denominated assets was boosted by China's leading position in COVID-19 control and economic recovery.

And in May, China National Offshore Oil Corp and Shell Nanhai BV officially kicked off production of their second ethylene cracker plant at their Nanhai petrochemicals complex in Daya Bay in Huizhou.

Analysts attributed the optimism to the light of monetary policy at the end of the dark, seemingly endless tunnel of corporate debt, as the total outstanding debt financing instruments reached 9.19 trillion yuan (.39 trillion)

And the Broadway League, the national trade association for the Broadway theater industry, said that Broadway performances will be suspended through the remainder of 2020 due to COVID-19. Broadway theaters are offering refunds and exchanges for tickets purchased for all performances through Jan 3, 2021, the association said Tuesday.

Analysts also pointed to growing bearish sentiments on coal prices and a gloomy global market.