U.S. President Donald Trump is welcomed after arriving in Beijing to kick off a landmark state visit in China on May 13, 2026. <\/p>\n
Anadolu | Anadolu | Getty Images<\/p>\n
Asia-Pacific markets traded mixed Thursday as investors look to a high-stakes meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping for clues on the future of U.S.-China ties and global trade.<\/p>\n
Trump landed in Beijing Wednesday for the closely watched summit, accompanied by a group of U.S.\u00a0executives<\/a>, including\u00a0Tesla<\/a>\u00a0CEO\u00a0Elon Musk<\/a>\u00a0and\u00a0Nvidia<\/a>\u00a0boss Jensen Huang.<\/p>\n Japan’s\u00a0Nikkei 225<\/a> rose 0.27%, while the Topix slid 0.23%. South Korea’s Kospi added 0.38%, while the small-cap Kosdaq climbed 1.31%.<\/p>\n In Australia, the\u00a0S&P\/ASX 200<\/a> declined 0.16%.<\/p>\n Hong Kong\u00a0Hang Seng index<\/a>\u00a0futures were at 26,799, higher than the index’s last close of 26,388.44.<\/p>\n Analysts at Goldman Sachs said they expect the Trump-Xi meeting to focus narrowly on trade and export controls, including tariffs, restrictions on rare earths and semiconductors, rather than producing a sweeping reset in bilateral ties. <\/p>\n The investment bank said China could agree to step up purchases of U.S. farm goods, energy and aircraft in exchange for avoiding further tariff hikes.<\/p>\n “While unlikely to be a game changer for US-China relations, we think the meeting could act as a tactical catalyst for strength in the Chinese yuan and Chinese equities,” Goldman’s analysts wrote in a note late Wednesday.<\/p>\n The bank maintained a positive view on China assets, citing the country’s export competitiveness and what it described as an “undervalued” currency, while reiterating an overweight call on Chinese equities, particularly mainland A-shares over Hong Kong-listed H-shares.<\/p>\n Read more Trump-Xi meeting coverage<\/p>\n In the U.S., futures were little changed. S&P futures<\/a>\u00a0and\u00a0Nasdaq 100 futures<\/a>\u00a0climbed 0.1% and 0.4%, respectively.\u00a0Futures tied to the Dow Jones Industrial Average<\/a>\u00a0rose by 111 points, or nearly 0.3%.<\/p>\n Overnight on Wall Street, the\u00a0S&P 500<\/a>\u00a0rose to a new all-time high as traders’ enthusiasm for the technology trade overshadowed yet another\u00a0hotter-than-expected inflation report<\/a>.<\/p>\n The broad market index rose 0.58% to 7,444.25, and the tech-heavy Nasdaq<\/a> added 1.2% to end at 26,402.34. Both hit fresh intraday and closing records. The\u00a0Dow Jones Industrial Average<\/a>\u00a0shed 67.36 points, or 0.14%, ending at 49,693.20.<\/p>\n \u2014 CNBC’s Lisa Kailai Han<\/a> and Sean Conlon contributed to this report.<\/p>\n