Shanghai Stocks Surge Amid U.S.-China Leaders' Meeting
Shanghai and Hong Kong stocks rose as investors anticipated tech sector growth and the U.S.-China meeting. Nvidia CEO Jensen Huang joined a delegation led by President Trump to Beijing, boosting Chinese AI stocks. The Shanghai Composite Index reached its highest since 2015, with Hong Kong's Hang Seng Index also gaining.
Shanghai stocks reached an 11-year peak while Hong Kong shares swung upward on Wednesday. This rise was fueled by investors buying into tech stocks before the much-anticipated U.S.-China leaders' meeting later this week.
The late addition of Nvidia CEO Jensen Huang to President Trump's business delegation injected optimism into Chinese AI stocks, despite concerns over the Iran war and inflation. The Shanghai Composite Index closed 0.7% higher, marking its highest level since 2015, while the blue-chip CSI300 index rose 1%.
In Hong Kong, the Hang Seng Index rebounded from earlier losses, inching up 0.2%. The upcoming face-to-face talks between U.S. President Donald Trump and Chinese leader Xi Jinping aim to mend trade ties and address geopolitical tensions. The anticipation of energy supply discussions adds a layer of interest for investors.
(With inputs from agencies.)
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