The Economic Journal reports on the 24th that Chinese President Xi Jinping has arrived in Washington for a three-day state visit. The China Enterprises Index is currently at 8,230, down 42 points or 0.5%. The pharmaceutical sector led the declines, with Akeso (09926) down 3.5% at HK$94.05, Innovent Biologics (01801) down 3.8% at HK$99.5, and Hansoh Pharmaceutical (03692) down 3.1% at HK$33.86.
Some 'China Special Valuation' stocks rose against the market trend, including CNOOC (00883) up 2.1% at HK$23.82, PetroChina (00857) up 1.9% at HK$9.53, as well as mainland banking sector stocks.
The first outcome of the Xi-Trump meeting has emerged. U.S. Treasury Secretary Bessent said that China and the U.S. have agreed to extend the trade truce by two months to January 10 next year, although this is shorter than the three to six months previously reported by media citing U.S. Trade Representative Grillo.
When asked whether both sides could reach a broader agreement before the new date, Treasury Secretary Bessent said: "I don't know if we can reach a larger agreement, nor do I know if we are just extending the current agreement." Regarding the expected outcomes of this Xi-Trump meeting, Bessent stated, "We may see announcements regarding financial services and agricultural product purchases."
The Hang Seng Index stands at 24,725, down 108 points or 0.4%, with main board turnover nearing HK$39.7 billion. The Hang Seng Tech Index is at 4,354, down 24 points or 0.6%. The current-month futures are at 24,717, down 98 points, at a discount of 9 points. The current-month H-share index futures are at 8,246, down 23 points, at a discount of 2 points. The current-month tech index futures are at 4,355, down 23 points, at a premium of 10 points.
(nw)
Some 'China Special Valuation' stocks rose against the market trend, including CNOOC (00883) up 2.1% at HK$23.82, PetroChina (00857) up 1.9% at HK$9.53, as well as mainland banking sector stocks.
The first outcome of the Xi-Trump meeting has emerged. U.S. Treasury Secretary Bessent said that China and the U.S. have agreed to extend the trade truce by two months to January 10 next year, although this is shorter than the three to six months previously reported by media citing U.S. Trade Representative Grillo.
When asked whether both sides could reach a broader agreement before the new date, Treasury Secretary Bessent said: "I don't know if we can reach a larger agreement, nor do I know if we are just extending the current agreement." Regarding the expected outcomes of this Xi-Trump meeting, Bessent stated, "We may see announcements regarding financial services and agricultural product purchases."
The Hang Seng Index stands at 24,725, down 108 points or 0.4%, with main board turnover nearing HK$39.7 billion. The Hang Seng Tech Index is at 4,354, down 24 points or 0.6%. The current-month futures are at 24,717, down 98 points, at a discount of 9 points. The current-month H-share index futures are at 8,246, down 23 points, at a discount of 2 points. The current-month tech index futures are at 4,355, down 23 points, at a premium of 10 points.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| Akeso (09926) | 94 | Down 3.59% |
| Innovent Biologics (01801) | 99.5 | Down 3.77% |
| China Resources Land (01109) | 28.7 | Down 3.11% |
| Hansoh Pharmaceutical (03692) | 33.86 | Down 3.09% |
| Zijin Mining (02899) | 32.56 | Down 3.04% |
| Lenovo Group (00992) | 35.96 | Down 2.6% |
| China Hongqiao (01378) | 20.76 | Down 2.54% |
| Ctrip (09961) | 315.8 | Down 2.35% |
| China Life (02628) | 29.2 | Down 1.68% |
| Baidu (09888) | 87.2 | Down 1.52% |
