China and Hong Kong stocks rise as AI shares rally ahead of Xi meeting
Mainland benchmarks gained at midday, with AI shares leading. Shanghai Composite added 0.2% and CSI300 gained 0.5%; Hang Seng rose 0.4% and Hong Kong tech shares rose 1%. US Treasury Secretary Scott Bessent said senior US and Chinese officials will meet again in about two months in Shenzhen to discuss AI dangers and communications protocols. Alibaba CEO Eddie Wu said cloud global data centre capacity is targeted to surpass 20 GW by 2032.
SHANGHAI, Sept 22 (Reuters) — Mainland China and Hong Kong stocks rose on Tuesday, led by gains in AI shares, after US and Chinese officials agreed to hold further talks on AI safety, while investors looked ahead to a top leaders' meeting later this week. 5%. 3%. 3%.
* Senior US and Chinese officials will meet again in about two months in Shenzhen, China, to discuss artificial intelligence dangers and communications protocols in the event of AI safety incidents, US Treasury Secretary Scott Bessent said on Monday. * Bessent also offered positive comments about the US-China trade relationship, ahead of Chinese President Xi Jinping's state visit to the US from September 23 to 25 at the invitation of President Donald Trump.
* "Our expectations for this state visit are limited, with our focus more on the optics and symbolism of the trip rather than actual outcomes," said William Bratton, head of cash equity research for APAC at BNP Paribas. 4%, while the city's tech shares rose 1%. * Hong Kong shares of Alibaba Group hit a one-month high at one point after the company's CEO Eddie Wu said on Tuesday that it aims for its cloud global data centre capacity to surpass 20 GW by 2032. (Reporting by Shanghai Newsroom; Editing by Janane Venkatraman)