Hong Kong

Global equity markets mostly traded higher on Thursday as investors tracked developments from the high-profile summit between US President Donald Trump and Chinese President Xi Jinping in Beijing, while Wall Street’s record-setting momentum continued to support market sentiment.

The two leaders met at the Great Hall of the People for talks covering bilateral ties, economic cooperation and regional security, including developments around Taiwan and the Strait of Hormuz. Though analysts did not expect major policy breakthroughs, the summit remained a key focus for global investors.

In Europe, major indices opened higher. Britain’s FTSE 100 rose 0.3 per cent to 10,351.36 after stronger-than-expected UK economic growth data. France’s CAC 40 gained 0.6 per cent, while Germany’s DAX advanced 1.4 per cent.

Asian markets delivered a mixed performance. Japan’s Nikkei 225 fell 1 per cent despite briefly touching a fresh intraday record, while South Korea’s KOSPI surged 1.8 per cent to a new all-time high, supported by strong demand for technology and artificial intelligence-linked stocks.

China’s Shanghai Composite declined 1.5 per cent, while Hong Kong’s Hang Seng Index ended largely unchanged. Australia’s S&P/ASX 200 edged higher, while India’s BSE Sensex climbed over 1 per cent.

Energy markets remained volatile amid continuing concerns over disruptions linked to the Iran conflict and shipping through the Strait of Hormuz. Brent crude traded near USD 105.87 per barrel, while US benchmark crude hovered around USD 100.86.

The White House said Trump and Xi discussed expanding economic cooperation and agreed that the Strait of Hormuz should remain open for global trade and energy flows.

Investors were also monitoring developments involving Nvidia, as CEO Jensen Huang joined Trump’s China delegation alongside Elon Musk of Tesla and Tim Cook of Apple for meetings with Chinese Premier Li Qiang.

On Wall Street overnight, the S&P 500 rose 0.6 per cent to another record high, while the tech-heavy Nasdaq Composite gained 1.2 per cent and also hit fresh highs. The Dow Jones Industrial Average ended marginally lower.

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In currency markets, the US dollar remained firm against the Japanese yen, while the euro traded slightly weaker against the greenback as traders continued to assess inflation risks, interest-rate expectations and geopolitical developments.