ANALYST VIEW 1- China's Xi promises to open economy, lower tariffs

SYDNEY/SHANGHAI, April 10 (Reuters) - Chinese President Xi Jinping on Tuesday promised to open the country's economy further and lower import tariffs on products including cars, in a speech that struck a conciliatory tone amid rising trade tensions between China and the United States.

Xi also said China would raise the foreign ownership limit in the automobile sector as soon as possible and push previously announced measures to open the financial sector.

"This year, we will considerably reduce auto import tariffs, and at the same time reduce import tariffs on some other products," Xi said at the Chinese Boao Forum for Asia in Hainan province.

The comments sent U.S. stock futures, the dollar and Asian shares higher.

Xis' speech comes amid rising trade tensions between China and the United States following a week of escalating tariff threats sparked by U.S. frustration with China's trade and intellectual property policies.

Following are analysts' comments on the speech:

SEAN CALLOW, FX STRATEGIST, WESTPAC, SYDNEY:

"President Xi has ignited a rally in risk assets that might have some legs if the U.S. can keep a lid on the protectionist rhetoric for a while. There must have still been considerable nerves about the speech in markets since AUD and stocks jumped on what should have been largely expected pledges to abide by the global rules-based order."

RODRIGO CATRIL, SENIOR FOREX STRATEGIST, NATIONAL AUSTRALIA BANK:

"It's been a pretty good speech in terms of soothing market concerns over trade. Xi did all that without even mentioning Trump. He said it was in China's own interest to have an open economy, and that trade is good for everyone, he significantly acknowledged the intention to lower tariffs for some industries. So he's essentially touched on all the major concerns from President Trump.

"If you want to be critical, Xi did not mention the timeframe for any of this. That could be a source of unresolved tension in coming days. But overall it was good news. The Aussie in particular is benefiting from it.

"We have had a bit of a yo-yo effect in the markets recently. Our sense is that because of the intricacies of the negotiations, there is still potential for conflicting headline but the general theme looks positive. The base case is that some resolution will be achieved.

KEN CHEUNG, SENIOR ASIAN FX STRATEGIST AT MIZUHO BANK, HONG KONG:

"What Xi mainly wanted to express was that China will continue to open up this year. And all the measures he mentioned in the speech were to shrink down other countries' trade deficit with China, including opening up markets, lower import tariffs, and the IP protection. Xi was responding to the Trump administration's accusation against China. Xi expressed his position today - he does not want a large-scale trade war with the United States.

"Indications for the financial markets are that chances for a full-blown trade war are not high. I think he eased market tension. Major currencies like yen and euro have reacted to his speech, the market is back to a risk-on tone.

"For the Chinese yuan, it is likely to stay stable."

YUKINO YAMADA, SENIOR STRATEGIST AT DAIWA SECURITIES:

"This was quite a surprise amid worries that there may be no solution to U.S.-China trade frictions. Lowering tariffs on autos is significant, given it is one very big industry and given difficult issues surrounding EVs. We now have to see how Trump will react but markets will surely react positively on rising hopes that a trade war will be averted." (Additional reporting by Hideyuki Sano and Ayai Tomisawa in TOKYO, Christina Martin in BENGALURU, Swati Pandey in SYDNEY and WINNI ZHOU in SHANGHAI Compiled by Vidya Ranganathan in SINGAPORE Editing by Shri Navaratnam)