China and U.S. Tout Trade Framework Agreement Again, Hesai Group In Focus After Hong Kong Listing

Li Chen
16 Sep, 2025
Hong Kong

Stock market indexes in China and Hong Kong lacked direction, and investors awaited details of the US-China "trade framework agreement." 

The Hang Seng index fluctuated around the flatline, and the mainland-focused CSI 300 index edged down 0.4% following mixed macroeconomic data on Monday. 

Investor sentiment was cautious, and US-China trade negotiations in Madrid, Spain, showed a little progress. 

Both sides agreed to lower trade and investment barriers and "agreed" to "transfer" ownership of TikTok to a U.S.-controlled entity.

The leaders of the two nations are expected to talk on Friday; however, expectations for a trade agreement are low. 

Moreover, only a month is left for China to finalize its purchase of U.S. soybeans, and China purchases as much as 50% of U.S. soybeans. 

The U.S. government heavily subsidizes local farmers to produce soybeans, corn, and wheat, and a significant amount of crop production is exported to China and other nations.

 

China Indexes and Stocks 

The Hang Seng index was nearly unchanged at 26,466.45, and the mainland-focused CSI 300 index decreased 0.4% to 4,515.86.

Tariff and international travel-sensitive stocks were in focus in Shanghai and Hong Kong. 

Trip.com Group advanced 3% to HK$591.0, Alibaba Group Holding decreased 0.3% to HK$154.10, and China Hongqiao Group dropped 5% to HK$25.22. 

Hesai Group jumped 11% to HK237.20, and the mainland-based company listed its stock on the Hong Kong Stock Exchange. 

The lidar sensor maker sold 19.55 million shares and raised about HK$4.2 billion, or US$531 million, in a secondary offering. International investors purchased about 90% of the stocks.