China shares climb ahead of Trump-Xi summit; tech stocks inch up

Business Recorder reported that stocks in mainland China and Hong Kong moved higher on Monday, with technology and property shares leading the advance. Investors were looking ahead to a meeting between Donald Trump and Xi Jinping this week, where the main question is whether the two leaders will signal an extension of last year's trade truce. Shanghai's Composite gauge stood 0.6% higher at 3,933.37 points by the midday pause.

Technology gains followed the conclusion of talks in New York on Sunday between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. Washington put forward a new AI safety notification mechanism ahead of the September 24 summit, while the CSI AI Index rose 1.1%. ChiNext climbed 0.9% and the STAR50 advanced 0.4%.

Real estate shares surged 4.6% and defence stocks added 1.7%, while healthcare gained over 3% after a Reuters report that Washington is drafting rules for drugmakers investing in China. Goldman Sachs analysts said both sides would likely maintain relative stability, though a wide-ranging bilateral deal looked improbable. In Hong Kong, the Hang Seng Index was 0.6% higher at 24,891.58 while the Hang Seng Tech Index barely moved.