Hong Kong Stocks Flat as Investors Monitor Trump-Xi Summit; New World Development Slips

MT Newswires Live05-14 16:31

Hong Kong stocks were broadly unchanged Thursday, as investors await further developments from the summit between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

The Hang Seng Index ended flat in positive territory at 26,389.04, while the Hang Seng China Enterprises Index slipped 0.2%, or 17.75 points, to finish at 8,858.63.

During the opening session of the two-day summit, Xi said trade discussions were progressing while warning that differences over Taiwan could strain bilateral ties, according to state media reports.

He also described relations with the United States as entering a "new positioning," state broadcaster CCTV reported.

Xi added that both leaders agreed that a constructive and strategically stable relationship would help guide bilateral ties in the coming years, although few details of the talks were disclosed.

The conflict involving Iran is also expected to feature in discussions between the two leaders.

In corporate news, New World Development (HKG:0017) closed over 4% lower after saying discussions with Airport Authority Hong Kong on potential changes to contractual arrangements for its 11 Skies project remain ongoing, with no agreement reached.

Earlier, the South China Morning Post reported that the Airport Authority had taken over retail operations at the project ahead of the opening of Terminal 2 at Hong Kong International Airport.

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