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China's stock market closed slightly higher on Monday, with investors looking forward to signs of a revival in trade negotiations between China and the United States at the Group of 20 (G20) summit later this week.
The Shanghai-Shenzhen 300 index. CSI300 rose 0.2% to 3,841.27 and the Shanghai Composite Index. SSEC rose 0.2% to 3,008.15.
The G20 summit will be held in Osaka, Japan, from June 28 to 29.
On Sunday, Xinhua quoted foreign ministry spokesman Lu Kang as saying that at the invitation of Japanese Prime Minister Abe Shinzo, Chinese President Xi Jinping will be in Osaka, Japan, on June 27-29 to attend the fourteenth summit of leaders of the group of twenty (G20).
Vice President Burns delayed his planned speech on China on Friday to avoid heightening tensions with Beijing before next week's summit. It also strengthens market optimism about Sino-US trade negotiations.
"Although Trump may agree to postpone further tariff increases, we doubt whether any truce will last. Given that China and the United States have become more assertive in their relations, it is increasingly difficult to envisage an agreement acceptable to both sides. Our basic forecast remains that the United States will impose tariffs on almost all Chinese imports to the United States by early next year, "said Capital Economics.
Wang Shouwen, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, said Monday that the Sino-US Economic and Trade Negotiation Team was conducting consultations to prepare for the meeting between President Xi Jinping and President Trump of the United States at the summit of leaders of the Group of 20 (G20), and that the two sides should make concessions in trade negotiations.
Despite hope, the situation is still not optimistic.
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