HK, mainland markets rise on hopes for Xi-Trump summit

Hong Kong and mainland stocks rose on Monday, led by technology and property shares, as investors hoped China and the United States would extend a trade truce when presidents Xi Jinping and Donald Trump meet this week. The benchmark Hang Seng Index rose 291 points, or 1.2 percent, to 25,042 on turnover of HK$202.73 billion. The tech index rose 17 points, or 0.4 percent, to 4,423 while the China enterprises index gained 114 points, or 1.4 percent, to 8,339. On the mainland, the benchmark Shanghai Composite Index ended up 38 points, or 0.97 percent, at 3,949. The Shenzhen Component Index was 89 points, or 0.65 percent, higher at 13,730. The combined turnover of the Shanghai and Shenzhen indices was 2.03 trillion yuan, down from 2.08 trillion yuan on Friday. Medical services, cellular immunotherapy and recombinant protein stocks were among the top gainers, while precious metals and photolithography equipment shares led the declines. The ChiNext Index gained 26 points, or 0.8 percent, to close at 3,399. Tech shares gained after Vice Premier He Lifeng and US Treasury Secretary Scott Bessent concluded talks in New York on Sunday, with the US side proposing a new AI safety notification mechanism ahead of the Xi-Trump summit between Wednesday and Friday. Market expectations for...