Chinese stocks opened lower on Monday as the meeting between US President Donald Trump and Chinese President Xi Jinping, as well as April economic indicators, left investors underwhelmed.
The Shanghai Composite Index, the main gauge of Chinese stocks, slid 0.3% to open at 4,123.42. The Shenzhen Component Index declined 0.5% to open at 15,486.05.
The results of the Trump-Xi meeting left market participants wanting, with no major surprises, according to a note by ING written Friday.
"Understandably, markets tend to be more concerned with immediate deliverables, rather than rhetoric and broader political themes, but that does not make the latter unimportant," ING's Greater China Chief Economist Lynn Song wrote.
China agreed to buy U.S. soybeans but did not specify the amounts, and Washington said Beijing will address American concerns regarding rare earths, according to a CNBC report.
On Sunday, the White House said China agreed to buy $17 billion worth of US farm products annually from 2026 to 2027.
Meanwhile, days after Trump's visit, Russian President Vladimir Putin is also expected see Xi in Beijing on Tuesday and Wednesday, the Kremlin said on Saturday.
On the economic front, China's retail sales grew 0.2% in April, missing economists' forecasts, while industrial output growth decelerated to 4.1% from 5.7% a month ago.
Urban fixed asset investment slid 1.6% in the January-April period.
Automotive parts supplier Tianhai Automotive Electronics (SHE:001365) opened at 81 yuan this morning, 198% higher than its 27.19 yuan initial public offering price.