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Asian Stocks Edge Higher as Tech Shares Rise Ahead of Trump-Xi Beijing Summit

Asian Stocks Edge Higher as Tech Shares Rise Ahead of Trump-Xi Beijing Summit. Source: Photo by Kindel Media

Asian stock markets posted modest gains on Thursday, supported by strength in technology and semiconductor stocks, while Chinese equities retreated as investors closely monitored the high-profile meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

Regional investors took positive cues from Wall Street after U.S. markets closed at record highs overnight, driven largely by strong performances in chipmakers and major technology companies. Market sentiment remained relatively resilient despite ongoing concerns surrounding the Iran conflict and its potential impact on global inflation and oil supply.

Chinese stocks underperformed compared to other Asian markets, with the Shanghai Shenzhen CSI 300 index dropping 0.8% and the Shanghai Composite declining 0.7%. The pullback came after both indexes recently touched multi-year highs, triggering profit-taking among investors ahead of the closely watched Trump-Xi summit.

The meeting between the U.S. and Chinese leaders is expected to focus on critical geopolitical and economic issues, including trade tariffs, artificial intelligence development, and Taiwan-related tensions. President Trump arrived in Beijing alongside several prominent U.S. business executives, raising optimism that diplomatic engagement could improve relations between the world’s two largest economies.

Elsewhere in Asia, markets saw mixed movement. Japan’s Nikkei 225 and South Korea’s KOSPI both posted gains of around 0.2%, with the Korean market continuing its strong recent momentum. Hong Kong’s Hang Seng Index climbed 0.7%, boosted by a sharp rally in Alibaba shares after the company announced plans to significantly increase investment in artificial intelligence over the next three years.

Meanwhile, Australia’s ASX 200 slipped 0.1%, extending its losing streak as investors remained cautious over inflation risks linked to the Iran conflict. Singapore’s Straits Times Index and India’s Nifty 50 futures also edged lower amid concerns about elevated crude oil prices and potential supply disruptions.

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