In Hong Kong, the benchmark Hang Seng Index ended up 204.07 points, or 0.84 percent, at 24,366.94.
In the mainland, the benchmark Shanghai Composite Index ended up 0.52 percent to 3,402.32.
The Shenzhen Component Index closed 0.83 percent higher at 10,246.02.
The gains came after US and Chinese officials said they had agreed on a framework to put their trade truce back on track and remove China’s export restrictions on rare earths while offering little sign of a durable resolution to longstanding trade differences.
“This is positive news to the market,” said Mark Dong, co-founder of Minority Asset Management.
“At least now there’s a bottom line that neither side is willing to cross.
“Going forward, both sides will move toward reducing the trade imbalance.”
Zeng Wenkai, the chief investment officer at Shengqi Asset Management, said markets had likely expected the outcome.
“People have realised that kneeling gets you nowhere – in fact, it only invites more bullying,” Zeng said, adding that countries are now adopting a tougher stance in negotiations with the United States.
The CSI Rare Earth Index gained more than 3 percent, while China’s semiconductor index fell 0.1 percent.
“The details matter, especially around the degree of rare earths bound for the US, and the subsequent freedom for US-produced chips to head East,” said Chris Weston, head of research at Pepperstone.
“But for now as long as the headlines of talks between the two parties remain constructive, risk assets should remain supported.”
Tech majors traded in Hong Kong advanced 1.1 percent
China’s auto stocks climbed nearly 2 percent after several major automakers, including BYD, Chery and Geely, pledged to pay suppliers within 60 days. (Reuters/Xinhua)
