China and Hong Kong stocks fell on Thursday, led by declines in the rare-earth and tech sectors, as markets struggled to sustain positive momentum from Sino-U.S. trade talks that provided few concrete details.
A deal getting the fragile truce in the U.S.-China trade war back on track was reached after negotiators from Washington and Beijing agreed on a framework covering tariff rates, U.S President Donald Trump said on Wednesday.
The deal removes Chinese export restrictions on rare-earths minerals and allows Chinese students access to U.S. universities, but many specifics and detailed terms were absent, leaving investors cautious.
China‘s blue-chip CSI300 Index .CSI300 fell 0.6% from a three-week high touched in the previous session. Hong Kong‘s benchmark Hang Seng index .HSI lost 0.7% to pull back from its highest level in nearly three months.
The CSI Rare Earth Index CSI930598 slipped 0.8% from a seven-month high, and the semiconductor sector subindex .CSI931865 slid more than 1%.
In Hong Kong, the Hang Seng Tech Index .HSTECH lost 1.5% in early trades.
-Reuters
