Stock markets were enjoying a much-needed relief rally in Asia on Wednesday after President Donald Trump said he had no plans to fire the head of the Federal Reserve, and hinted at lower tariffs for China.

Trump’s comments on the Fed chief late Tuesday in Washington walk back opinions expressed earlier in the week that sparked concerns about the US central bank’s independence. Progress in various trade talks also helped improve market sentiment after investors had broadly retreated from US assets this month following the announcement of century-high levies.