China, Hong Kong stocks edge up ahead of Xi-Trump summit; AI shares rise
Mainland China and Hong Kong stocks eked out gains on Tuesday, with the benchmark Shanghai composite index and the blue-chip CSI300 index closing up 0.1%. An AI sub-index advanced 1.6% after officials of the two countries agreed to hold talks on AI safety. Senior US and Chinese officials will meet again in about two months in Shenzhen, China, to discuss AI dangers and communications protocols in the event of AI safety incidents. Hong Kong's benchmark Hang Seng index climbed 0.2%.
(Updates to the close) SHANGHAI, Sept 22 (Reuters) — Mainland China and Hong Kong stocks eked out gains on Tuesday, as investors assessed their positions ahead of a meeting of the presidents of US and China this week, while AI shares rose after officials of the two countries agreed to hold talks on AI safety. 1%. 5%. 6%.
* Senior US and Chinese officials will meet again in about two months in Shenzhen, China, to discuss AI 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 relations, 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. 3%.
* Hong Kong shares of Alibaba Group hit a one-month high at one point after CEO Eddie Wu said on Tuesday that the firm aims for its cloud global data centre capacity to surpass 20 GW by 2032. * Tencent Holdings jumped after it released a preview of its latest AI image-generation model. (Reporting by Shanghai Newsroom; Editing by Janane Venkatraman and Harikrishnan Nair)