China benchmark drops 0.73%

Asian stocks turned in a mixed performance on Thursday after Federal Reserve Chair Jerome Powell indicated that further interest rate cuts are not guaranteed.

The meeting between U.S. President Donald Trump and Chinese President Xi Jinping concluded, with Trump saying there will be a trade deal pretty soon.

Trump announced that he would reduce fentanyl tariffs on China by from 20 percent to 10 percent, helping calm immediate tensions.

China's state media quoted Xi as saying that a 'consensus' was reached with Trump on trade issues.

China's Shanghai Composite index fell 0.73 percent to 3,986.90 and Hong Kong's Hang Seng index dipped 0.24 percent to 26,282.69 as the high-stakes Xi-Trump meeting lacked surprises and Trump said Nvidia's Blackwell AI chips weren't discussed with Xi Jinping.

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