Gold bars to be exempt from tariffs, White House clarifies
Investing.com-- Chinese technology stocks rose in early trade on Monday ahead of high-stakes U.S.–China trade talks in London, with investors anticipating progress on tariffs and export controls that could boost growth outlook for tech and consumer sectors.
U.S. trade officials, led by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, are expected to meet Chinese Vice Premier He Lifeng. Talks will centre on rolling back tariffs, adjusting export curbs on tech and critical minerals, and addressing systemic economic concerns
Hong Kong-listed Alibaba (HK:9988) and JD.com (HK:9618) were among the top performers, rising 3%, and 4.8%, respectively as traders bet on potential tariff relief and resumed rare earth exports following a positive call between Presidents Xi and Trump.
Meanwhile, chipmaker Semiconductor Manufacturing International Corp (SMIC) (HK:0981) saw its shares climb 4.6%, driven by hopes of looser U.S. export controls on semiconductor-related equipment, a key focus of the London agenda.
NetEase Inc (HK:9999) and Baidu (NASDAQ:BIDU) Inc (HK:9888) shares also jumped over 3% on Monday.
Hong Kong’s broader Hang Seng TECH index rose over 3%, while the benchmark Hang Seng was up 1.7%.