China Stocks Extend Gains on US-China Talks, Tech Optimism
The Shanghai Composite rose 0.4% to 3,963.8 on Tuesday, while the Shenzhen Component advanced 1.2% to 13,889, extending gains from the previous session as optimism over high-level US-China talks boosted sentiment. Chinese and US officials concluded a second day of talks covering AI, investment, and trade issues ahead of the Trump-Xi summit in the US. The closely watched meeting, scheduled for September 23—25, is expected to focus on AI, the Iran conflict, export controls, and rare-earth supplies. Investors are also monitoring whether Beijing and Washington can extend their trade truce before it expires in November. Further supporting the market was a rally in Asian tech sector, which tracked gains on Wall Street amid optimism surrounding Meta Platforms' latest AI agent. Among the standout performers were SMIC (1.7%), Hygon Information Technology (7.5%), Zhongji Innolight (1.6%), and Victory Giant Technology (9.2%).
2% to 13,889, extending gains from the previous session as optimism over high-level US-China talks boosted sentiment. Chinese and US officials concluded a second day of talks covering AI, investment, and trade issues ahead of the Trump-Xi summit in the US. The closely watched meeting, scheduled for September 23—25, is expected to focus on AI, the Iran conflict, export controls, and rare-earth supplies. Investors are also monitoring whether Beijing and Washington can extend their trade truce before it expires in November.
Further supporting the market was a rally in Asian tech sector, which tracked gains on Wall Street amid optimism surrounding Meta Platforms' latest AI agent. 2%).