Asia-Pacific stocks trade mixed as Trump lands in Beijing for high-stakes Xi meeting

U.S. President Donald Trump is welcomed after arriving in Beijing to kick off a landmark state visit in China on May 13, 2026. Anadolu | Anadolu | 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. Trump landed in Beijing Wednesday for the closely watched summit, accompanied by a group of U.S. executives , including Tesla CEO Elon Musk and Nvidia boss Jensen Huang. Japan's Nikkei 225 rose 0.27%, while the Topix slid 0.23%. South Korea's Kospi added 0.38%, while the small-cap Kosdaq climbed 1.31%. In Australia, the S&P/ASX 200 declined 0.16%. Hong Kong Hang Seng index futures were at 26,799, higher than the index's last close of 26,388.44. 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. 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. "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. …