Chinese stocks rise ahead of Trump and Xi trade talks
Chinese stocks got a boost on Friday, with investors feeling hopeful ahead of upcoming trade talks between US President Trump and China's President Xi.
Both the CSI300 and Shanghai Composite Index climbed nearly 1%, their best day in weeks, while Hong Kong's Hang Seng Index also rose.
The big meeting set for September 24 in Washington will focus on possible tariff cuts and farm trade deals, aiming to ease ongoing tensions.
Chinese chip and AI stocks gain
Most of the excitement came from tech, AI, and chip stocks: China's CSI Integrated Circuits Index shot up 5%, and its CSI AI Index gained about 3%.
Hong Kong saw similar gains. This reflects China's push to strengthen its tech scene despite US restrictions.
The stakes are high, too: these talks could extend a key tariff truce that expires soon, all while China faces continued weakness in domestic demand and the international expansion of Chinese companies.