China benchmark index rises 0.87%

Asian stocks rose broadly on Tuesday, with Chinese and Hong Kong markets leading gains after U.S. President Donald Trump announced an April visit to China at Xi Jinping's invitation following a productive phone call.

Regional gains were also driven by AI optimism and increased confidence in a Federal Reserve rate cut.

The dollar was steady in Asian trading ahead of the release of key U.S. economic data later in the day, including readings on retail sales, pending home sales, producer prices and consumer confidence.

Ahead of Thanksgiving and Black Friday, these reports may provide valuable insights into inflation pressures, consumer spending patterns and overall economic sentiment in the world's largest economy.

 

Gold extended gains to hit its highest in more than a week while oil drifted lower on expectations of looser supply-demand balances next year.

China's Shanghai Composite index jumped 0.87 percent to 3,870.02 as Trump touted relations with China as "extremely strong" following a call with Chinese leader Xi Jinping.

Hong Kong's Hang Seng index surged 0.69 percent to 25,894.55. E-commerce giant Alibaba gained more than 2 percent ahead of its earnings release.

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