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.
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A bus and a truck collided in Brazil’s central-western state of Mato Grosso late Friday, leaving 11 people dead and 45 others injured, according to the toll road operator and the federal highway police.
Kazakh President Kassym-Jomart Tokayev and Ukrainian President Volodymyr Zelenskyy held a telephone conversation.
Two wildfires in Türkiye’s northwestern Canakkale province destroyed dozens of homes and forced around 1,000 people to evacuate, officials said.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
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A bus and a truck collided in Brazil’s central-western state of Mato Grosso late Friday, leaving 11 people dead and 45 others injured, according to the toll road operator and the federal highway police.
Kazakh President Kassym-Jomart Tokayev and Ukrainian President Volodymyr Zelenskyy held a telephone conversation.
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Two wildfires in Türkiye’s northwestern Canakkale province destroyed dozens of homes and forced around 1,000 people to evacuate, officials said.
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