Asia
Hong Kong Stocks Rise Ahead of Trump-Xi Meeting; Transwarp Technology Slips on Debut
Hong Kong stocks closed higher Monday as investors welcomed fresh U.S.-China talks ahead of President Donald Trump and Chinese President Xi Jinping's planned meeting.The Hang Seng Index rose 291.93 points, or 1.2%, to close at 25,042.71, while the Hang Seng China Enterprises Index gained 114.23 points, or 1.4%, to finish at 8,339.63.U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held talks in New York ahead of the Trump-Xi summit, with discussions covering trade, investment and artificial intelligence.Investors also looked ahead to Thursday's Trump-Xi meeting, with the talks expected to address the broader trade relationship, tariffs and critical minerals as both sides seek to maintain a fragile trade truce.Markets also remained cautious on interest rates after the Federal Reserve's hawkish guidance last week, with a 56% chance of another rate hike in October priced in.In corporate news, Transwarp Technology (HKG:6727, SHA:688031) closed 9% lower at HK$44.50, compared with the offer price of HK$49.
Hang SengHKG:6727SHA:688031