President Donald Trump and President Xi Jinping are currently engaged in a high-stakes summit in Beijing. The first day of the highly anticipated meeting was marked by an exchange of compliments, with signals of easing trade tensions and the reaching of some deals.
Global financial markets have reacted variedly to the talks. While Asia markets were initially mixed, world shares are mostly higher as investors monitor takeaways from the summit. Asia-Pacific markets are set to rise as the second day of discussions continues. However, Chinese equities slipped as investors took profits following a recent tech-driven rally while waiting for clearer signals from the talks.
Despite the focus on the meeting between the superpowers, the summit is likely to be overshadowed by war in the Middle East. The effective closure of the crucial Strait of Hormuz has sent global energy prices soaring.