China Stocks Waver as Trump-Xi Summit Approaches

The Shanghai Composite rose 0.2% to 3,663 on Friday, while the Shenzhen Component edged down 0.1% to 11,186, delivering a mixed performance as investors adopted a cautious stance ahead of next week’s summit between US President Donald Trump and Chinese President Xi Jinping. The high-stakes meeting in Shenzhen faces renewed uncertainty after allegations surrounding Nvidia CEO Jensen Huang’s ties to a suspected Chinese spy threatened to reignite bilateral friction over semiconductor trade. Huang’s controversy could hand US lawmakers fresh ammunition to push for stricter technology controls ahead of the leaders’ talks. Notable gainers included Cambricon Technologies (4.7%) and Hygon Information Technology (3.8%), while optical module suppliers Zhongji Innolight (-3.2%) and Eoptolink Technology (-2.9%) retreated. Despite the day’s divergent moves, both benchmark indices remained on track to post weekly gains.