US-China trade negotiations impact global markets and semiconductor stocks

Economic and trade teams from the United States and China are conducting critical negotiations in New York regarding the extension of a trade truce. While the U.S. has proposed a six-month extension, reports indicate that China is seeking a longer duration. U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held a 12-hour meeting to discuss these terms, though a final consensus on the specific duration has not yet been reached.

These negotiations have significantly impacted global financial markets. Following news of the potential breakthrough, the Philadelphia Semiconductor Index surged over 4%, and the Nasdaq reached a record high. In Taiwan, the TAIEX night session jumped over 700 points, crossing the 48,000 mark, driven by optimism in the AI and semiconductor supply chains.

In Hong Kong, the Hang Seng Index rose 1.18%, reclaiming the 25,000 level, supported by gains in biotechnology and internet technology sectors. Meanwhile, international oil prices saw a decline as geopolitical premiums eased amid discussions of potential diplomatic contact between the U.S. and Iran.