China stocks post biggest one-day drop in a month on Trump-Xi summit caution
FXI•China stocks fall on skepticism over Trump-Xi meeting
China stocks logged their worst day in a month on Thursday as investors remained sceptical that a meeting between US President Donald Trump and Chinese President Xi Jinping in Washington would produce a broader breakthrough.
At the close, China's blue-chip CSI300 Index .CSI300 fell 1.7%, while the Shanghai Composite Index .SSEC lost 1.2%, both marking their biggest one-day drop in a month.
Hong Kong's benchmark Hang Seng Index .HSI was down 0.3%.
Trump welcomed Xi to Washington on Wednesday for a three-day visit that will test relations between the two superpowers.
Xi's first trip to the US in nearly three years was not expected to yield major breakthroughs, but Treasury Secretary Scott Bessent said the two countries agreed to extend a trade truce by two months.
The extension is "shorter than market expectations" for a one-year rollover but nonetheless helps preserve stability in the bilateral relationship, analysts at UBS said in a sales note.
