Trump-Xi summit revives China tech rally hopes as U.S. reportedly clears Nvidia H200 sales

A man looks at a screen showing Chinese stock market movements as he uses his mobile phone in Beijing on April 7, 2025. Wang Zhao | Afp | Chinese equities could get a fresh boost after this week's high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping, with investors saying the summit could ease trade tensions and revive momentum, especially in the country's lagging technology shares. Goldman Sachs analysts said discussions were expected to focus narrowly on trade and export controls, including tariffs, semiconductor restrictions and rare earth exports. The bank said it expected China to agree to buy more U.S. agriculture products, energy and aircraft in exchange for avoiding further tariff escalation. While Goldman does not expect a sweeping "grand bargain," it said the meeting could still "act as a tactical catalyst for strength in the Chinese yuan and in Chinese equities." Dong Chen, chief Asia strategist at Pictet Wealth Management, viewed the summit as a near-term catalyst for Chinese equities, especially after months of underperformance compared with U.S. technology peers riding the artificial intelligence boom. While markets did not appear to have "extremely high expectations" for the meeting, Chen said investors have been fairly upbeat. The fact that Trump and Xi were already meeting sent a "positive signal," he added. …