SINGAPORE/SHANGHAI: Chinese stocks rallied and the yuan strengthened on Monday, after weekend talks in Geneva between Chinese and U.S. officials showed encouraging signs of a de-escalation in a high-stakes trade war.
U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer held long talks on the weekend with senior Chinese officials led by Chinese Vice Premier He Lifeng in Switzerland. Both sides struck a positive note, with markets awaiting specific details of any early agreement later in the day.
China’s blue-chip CSI 300 Index extended gains to 1.1% in the morning trading session, while the Shanghai Composite Index added 0.7%. Hong Kong’s benchmark Hang Seng Index climbed 1.5%.
The yuan strengthened 0.2% against the dollar, while its offshore counterpart was up about 0.3% in Asian trade.
“The weekend talks are better than…
