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The CSI300 index of large-cap stocks and the Shanghai Composite were both up around 1% by the midday break, putting them on track for their biggest single-day gains since mid-August. In Hong Kong, the Hang Seng Index gained about 0.7%. Also Read | Global Market: Nikkei gains 1% as AI, chip stocks rally; BOJ hikes rates Trump-Xi meeting in focus Trump is scheduled to host Xi in Washington on September 24 for their second meeting this year, with markets closely watching for progress on trade and other areas of economic cooperation. Reuters reported that the summit is expected to cover the extension of an existing tariff truce, possible reductions in tariffs on about $30 billion of goods, agricultural purchases and other trade issues. U.S. Trade Representative Jamieson Greer has indicated that the two countries could make announcements related to agriculture and non-tariff barriers. Investors are also watching for progress on the previously agreed reciprocal tariff reduction covering $30 billion in goods. Also Read | Global Market: Yuan hits 4-year high as traders bet on further gains The upcoming summit comes as both governments seek greater stability in a relationship strained by trade disputes, technology restrictions and other geopolitical issues. Reuters has reported that artificial intelligence and advanced chip access are also expected to feature in the discussions. AI and chip stocks lead gains Technology stocks were among the strongest performers in mainland China on Friday as investors increased exposure to sectors linked to artificial intelligence and semiconductor development. The CSI Integrated Circuits Index surged about 5%, while the CSI AI Index gained roughly 3%. Semiconductor and AI-related stocks also led gains in Hong Kong. The strength in technology shares reflects continued investor interest in China’s domestic AI and chipmaking industries, particularly as the country seeks to expand its technological capabilities amid restrictions on access to advanced U.S. technology. Investors shift toward growth sectors The gains were more pronounced in technology and other so-called new-economy sectors, while energy and consumer-related stocks weakened across both mainland China and Hong Kong markets. Great Wall Securities said external risks had eased following the latest U.S. interest-rate decision and maintained its view that China’s AI and semiconductor sectors remained areas of interest. Goldman Sachs, meanwhile, has pointed to continued weakness in domestic demand as a challenge for the Chinese economy while identifying areas of strength, including the international expansion of Chinese companies. For investors, the focus now shifts toward the outcome of the Trump-Xi meeting and whether it produces concrete progress on tariffs, agricultural trade and other economic issues. Reuters reported that markets will be watching closely for signs that the existing trade truce can be extended beyond its November expiry. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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