PRE-MARKET CHINESE STOCKS NEWS: Xiaomi (1810 HK) president said launch sales of the Xiaomi 18 Fold rose 300% compared with its previous-generation foldable smartphone; US-China trade truce was extended to January 10th
Extensions of a trade truce have historically followed a familiar sequence: a deadline approaches, both sides signal constructive intent, and the truce is rolled forward rather than resolved, leaving the underlying disputes intact.
PRE-MARKET CHINESE STOCKS NEWS: Xiaomi (1810 HK) president said launch sales of the Xiaomi 18 Fold rose 300% compared with its previous-generation foldable smartphone; US-China trade truce was extended to January 10th
US Export‑Import Bank offers up to USD 6bln in long‑term financing for Argentina LNG project
PBoC sets USD/CNY mid-point at 6.7489 vs Exp. 6.7184 (prev. 6.7468)
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Alibaba (9988 HK) - Co.'s Qwen launched its Qwen Intelligence full-stack mobile AI solution in public beta, with a reported 90% end-to-end task success rate. (Newswires)
Geely Automobile (175 HK) - Co. unveiled an AI-powered EV charging system developed with StepFun, including a 2,250kW charging station, while tests showed batteries used in the Lynk & Co 10 and Zeekr 001 could charge from 10% to 70% in 4 minutes 30 seconds and to 97% in 8 minutes 40 seconds. (Dow Jones Newsplus)
Nine Dragons Paper (2689 HK) - Co. FY26 (CNY) net 3.58bln (guidance 3.40-3.60bln), rev. 75.0bln (exp. 72.0bln). (Newswires)
TUHU (9690 HK) - Co.'s subsidiary agreed to acquire Conti Trade Australia Pty Ltd, an Australian proprietary company, at an enterprise value of AUD 403mln. (Newswires)
Xiaomi (1810 HK) - Co. President said launch sales of the Xiaomi 18 Fold rose 300% compared with its previous-generation foldable smartphone. (Newswires)
Other News
US President Trump greeted Chinese President Xi on his arrival at Joint Base Andrews, while Trump said it was a great greeting with Xi and that the entire tech and banking world will be at Thursday's dinner. Trump also stated that he had some great conversations with leaders at the UN General Assembly.
Chinese President Xi said he looks forward to in-depth exchanges with US President Trump and will expand cooperation between the two countries in various areas, while he is confident the US trip will produce fruitful results.
US Treasury Secretary Bessent said the US-China trade truce was extended to January 10th, while he doesn't know if a bigger trade deal can be done with China and could just roll the current deal forward. Furthermore, Bessent said that presidents Trump and Xi are expected to meet four times this year and that China is doing well so far in meeting 2026 pledges.
US Democratic senators reportedly sent a letter to President Trump calling for an agreement with China to mutually slow or pause AI development, according to Politico.
The telling language here is the framing around simply rolling the current arrangement forward and uncertainty over whether a bigger deal is achievable, which in past episodes of this kind has capped the upside from headline goodwill while removing the tail risk of imminent escalation. The planned cadence of multiple leader meetings within the year is itself the channel to watch: repeated summits have tended to anchor risk appetite in China-sensitive assets between meetings, with each encounter becoming a binary checkpoint for the truce's survival. On the corporate side, strong foldable launch sales and fast-charging milestones are product-cycle news rather than policy, and single-company launch figures of this kind have historically faded quickly against the macro backdrop. The counterweight is the political track, where calls from legislators to slow AI development signal that the technology-control agenda runs on a separate, harder line from the trade truce. Near-term follow-ons are the readouts from the leaders' meeting and any detail on what the extension covers in terms of tariffs and export controls.
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