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Bucking the upward trend, the sub-index for the Persian Gulf/Red Sea route dropped the most by 6.8 percent.

Both sides agreed to seek active and effective measures to jointly address excess steel capacity, a global issue requiring a collective response by the international community.

Both sides should continue to strengthen strategic communication and make active efforts to that end, Wang added.

Built in the mid-18th century, the palace was added to the UNESCO World Heritage List in 2001 as part of the historic ensemble of the Potala Palace.

Brent crude oil futures, the benchmark for world prices and a proxy for future economic activity, edged up 0.54 percent to .97 a barrel. But futures for West Texas Intermediate crude declined 10.82 percent to .72 a barrel, the lowest price since December 2001. At this price, many hydraulic frackers can't operate profitably.