China shares rise ahead of Trump-Xi summit
The summit is expected to help maintain relative stability in US-China relations, although a broad agreement remains unlikely.
On Monday, Chinese and Hong Kong stocks climbed, propelled by technology and property shares, as traders anticipated the upcoming US-China summit between Presidents Donald Trump and Xi Jinping. The Shanghai Composite index rose 1%, closing at 3,949.91 points, while the CSI300 blue-chip index increased by 0.7%. The ChiNext Composite index rose 0.8%, and Shanghai's tech-focused STAR50 index climbed 0.3%.
The CSI AI Index added 1.1%. Technology stocks benefitted from the US Treasury Secretary's and Chinese Vice Premier's talks in New York, which proposed a new AI safety notification mechanism ahead of the summit on September 23-25. Analysts at Goldman Sachs expect both sides to aim for relative stability in US-China relations, though a comprehensive bilateral agreement seems improbable.
In Hong Kong, the Hang Seng Index increased by 1.2% to 25,042.71, and the Hang Seng Tech Index rose 0.4%. Other sectors, such as real estate, surged 6.9%, defenced stocks added 2%, and healthcare rose 3.6% following a Reuters report about the US working on rules for pharmaceutical companies investing in China, preserving their licensing deal capabilities.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- China shares rise ahead of Trump-Xi summit freemalaysiatoday.com
