China stocks on track for best day in a month ahead of Trump — Xi meeting; Hong Kong rises
SHANGHAI, Sept 18 (Reuters) — China stock benchmarks are on track to log their best day in a month on Friday, while Hong Kong shares also gained, as traders expect trade tensions to ease after next week’s meeting between U.S. and Chinese presidents. * China’s large-cap CSI300 Index and the Shanghai Composite Index were up about 1% by the lunch break, on track for their biggest one-day gain since mid-August. * In Hong Kong, the Hang Seng Index climbed 0.7%. * U.S. President Donald Trump will welcome his Chinese counterpart Xi Jinping in Washington next week for their second meeting this year, as the two leaders seek stability in a fraught relationship. * U.S. Trade Representative Jamieson Greer said this month the countries will make "some announcements on agriculture and non-tariff barriers" and traders will be watching for progress on an agreed mutual tariff reduction covering $30 billion in goods. * With U.S. rate hike also in the rearview mirror, “the external risks have weakened,” Great Wall Securities said in a note. * Bets on China’s AI and chipmaking sectors are still advisable, the brokerage said. * Goldman Sachs said that despite China’s economic headwinds from weak domes
S. and Chinese presidents. * China’s large-cap CSI300 Index and the Shanghai Composite Index were up about 1% by the lunch break, on track for their biggest one-day gain since mid-August. 7%.
S. President Donald Trump will welcome his Chinese counterpart Xi Jinping in Washington next week for their second meeting this year, as the two leaders seek stability in a fraught relationship. S. Trade Representative Jamieson Greer said this month the countries will make "some announcements on agriculture and non-tariff barriers" and traders will be watching for progress on an agreed mutual tariff reduction covering $30 billion in goods.
S. rate hike also in the rearview mirror, “the external risks have weakened,” Great Wall Securities said in a note. * Bets on China’s AI and chipmaking sectors are still advisable, the brokerage said. ” * China’s chipmaking and AI stocks jumped on Friday.
* The CSI Integrated Circuits Index surged 5%, while the CSI AI index gained 3%. * Semiconductor and AI stocks also led gains in Hong Kong. * But energy and consumer shares weakened in both markets, reflecting investors’ preference toward “new economy” stocks. com)