US raises markets' hopes for China deal as Beijing keeps cautious tone

Upbeat Bessent touts progress on rare earths, soybeans and more after Malaysia talks

20251027 trump xi handshake

U.S. President Donald Trump and Chinese President Xi Jinping shake hands after a meeting in Beijing in November 2017. The two leaders are expected to meet later this week in South Korea, after their negotiators prepared the groundwork in Malaysia. © Reuters

LORRETTA CHEN and WATARU SUZUKI

HONG KONG/SHANGHAI -- Top trade negotiators from the U.S. and China agreed to a "framework" for a possible trade deal over the weekend, dialing back some of the fiery rhetoric heard in recent weeks and pushing Chinese stocks to fresh highs on Monday.

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