Chinese and Hong Kong stock markets opened the week on a positive note, buoyed by gains in rare-earth and technology sectors, as investor focus shifted to high-stakes US-China trade negotiations set to begin in London.
China's major indices saw modest gains by midday on Monday, with the blue-chip CSI300 and the Shanghai Composite Index both rising 0.2%. Hong Kong’s Hang Seng Index climbed over 1%, surpassing the 24,000 mark for the first time since March 21.
Market sentiment remained cautiously optimistic ahead of a crucial round of U.S.-China trade talks. Senior officials, including U.S. Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng, are meeting in London to address escalating trade tensions. The meeting follows a direct phone call between President Donald Trump and President Xi Jinping, their first conversation since renewed friction emerged after the Geneva accord.
“The tone from Trump suggests potential for progress,” analysts at China Securities noted, adding that any breakthrough could provide a lift to global markets.
Leading Monday's gains was China’s strategically vital rare-earth sector, up 1.6%, as it is expected to be a central topic in the negotiations. Technology stocks also saw strong momentum in Hong Kong, with the Hang Seng Tech Index surging 2.3% to reach its highest level in nearly three weeks.
Meanwhile, the yuan traded flat, last seen at 7.1872 per dollar.
Despite today’s uptick, Chinese equities have largely moved sideways since April 2, when Trump introduced sweeping tariffs in a move that reignited global trade concerns. The CSI300 has shown minimal change since then, while the Hang Seng Index has gained about 3%, still trailing behind the recovery seen in other major global markets.
On the economic front, China’s consumer prices declined for a fourth consecutive month in May, and producer deflation deepened—highlighting ongoing challenges from trade disputes and a stagnant property sector.
German voters cast ballots on Sunday in two state elections that could add to the political pressure on Chancellor Friedrich Merz, as his governmen...
Iraq has returned restricted airspace across the western part of the country to civilian authorities, ending limits imposed for military operations...
Denmark and Greenland have moved to reassure the public that their sovereignty will remain intact under a new security agreement with the United St...
Saudi civil defence sent an all-clear on Saturday after issuing alerts for a second time for potential danger in Riyadh and the city of Al-Kharj east of the capital, amid an uptick in attacks by Iran-aligned Houthis on the Gulf country.
Houthi attacks target Riyadh amid concerns over Saudi oil supplies, as Iran says it will not reopen the Strait of Hormuz until its conditions are met and U.S. commitments are implemented, parliament speaker Mohammad Bagher Ghalibaf said on Sunday.
The U.S. State Department approved a $2.7 billion military sale to Ukraine for air-defence development upgrades, along with related equipment and services, the department said. Meanwhile, Ukrainian authorities reported at least 10 people had died in Russian attacks over the last 24 hours.
The death toll from an overnight Russian attack on the Kyiv region rose to four, including three children, Kyiv regional authorities said on Sunday. A mother and her two 3-year-old children were killed when a Russian drone strike hit a private home, the emergency service said.
U.S. President Donald Trump said on Friday that additional news organisations could be barred from the White House, hours after announcing bans on CNN, MS NOW and Politico over coverage he described as “fake news”.
German voters cast ballots on Sunday in two state elections that could add to the political pressure on Chancellor Friedrich Merz, as his government faces growing public frustration and a resurgent far right.
Iraq has returned restricted airspace across the western part of the country to civilian authorities, ending limits imposed for military operations against Islamic State since 2016, the Transport Ministry said.
Denmark and Greenland have moved to reassure the public that their sovereignty will remain intact under a new security agreement with the United States.
World leaders are set to gather at the United Nations General Assembly in New York for several days of high-level debate, with Iran, Ukraine, artificial intelligence (AI) and a range of global crises expected to dominate discussions this week.
Ed Sheeran has broken his silence on the controversy surrounding his U.S. tour, apologising for decisions made after rapper Macklemore was removed from the line-up over his public support for Palestine.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment