Asian stocks rise after Biden, Xi hold video summit
ABC News
Asian stock markets are higher after President Joe Biden and China’s Xi Jinping held a summit meeting by video link
BEIJING -- Asian stock markets rose Tuesday after President Joe Biden and China's Xi Jinping held a summit meeting by video link.
Shanghai, Tokyo and Hong Kong, which make up the bulk of the region's market value, advanced. Seoul and Sydney declined.
Wall Street's benchmark S&P 500 index lost less than 0.1% as makers of household goods rose and health care stocks fell.
Biden told Xi their goal should be to ensure competition “does not veer into conflict.” The two leaders met amid tension over trade, technology, human rights, Hong Kong and Taiwan. Xi said he was ready to “build consensus" and said the two sides need to improve communication.
