China stocks wavered in morning trade on Friday, with investors cautious heading into the last day of a high-stakes summit between U.S. and China's President, which has delivered a few deals so far.
China’s blue-chip and the Shanghai Composite rose slightly after dipping more than 0.5% respectively in morning trade, easing further away from their recent peaks. Hong Kong’s benchmark fell more than 1%.
The two leaders are scheduled to have tea and lunch on Friday before Trump flies back to the United States.
Traders are closely watching for any positive signals from the meeting, including a potential easing of tariffs.
Trump told Fox News Channel that China has agreed to buy 200 Boeing jets, a number that was far fewer than analysts had expected.
Aviation stocks led the decline in morning trade, down more than 2%.
Chip stocks, meanwhile surged 8% after China's Semiconductor Manufacturing International Corporation (SMIC) says foreign clients shifting orders back to China.
It was undecided whether the trade truce will be extended after it expires later this year, U.S. Trade Representative Jamieson Greer told Bloomberg TV on Friday.
Xi told Trump on Thursday that negotiations on trade issues had reached "balanced and positive outcomes", without elaborating.
"I think we were optimistically looking at the meeting and maybe half expecting some huge trade agreement to be proposed or announced and from that view, it has disappointed," said Nick Twidale, Chief Market analyst at ATFX Global.
During a state banquet on Thursday, Trump invited President Xi to the White House for a visit on 24 September.
It was more about resuming and promoting high-level communication, reducing near-term uncertainty, and setting clearer boundaries for competition, he added.
China's yuan maintained its strength as the Trump-Xi meeting was underway. The currency hit a three-year high against the dollar in the previous session.
The yuan retreated slightly after the People's Bank of China set the midpoint rate at 6.8415 per dollar, 439 pips weaker than a Reuters' estimate.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 5 June, covering the latest developments you need to know.
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Israel and Lebanon have agreed to implement a ceasefire after U.S.-backed talks in Washington. The deal requires Hezbollah to halt attacks and withdraw from southern Lebanon, while both sides will resume direct talks later this month aimed at reaching a broader agreement.
Iran’s Revolutionary Guards (IRGC) said in a statement that its Aerospace Force did not strike the Kuwait Airport passenger terminal on Wednesday, and that the destruction was instead caused by a failed U.S. Patriot missile.
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Turkish President Recep Tayyip Erdoğan hosted Nigerien President Abdourahamane Tchiani in Ankara on Thursday, underscoring Türkiye’s growing engagement with Africa’s Sahel region as geopolitical alliances continue to shift.
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