Shares in Hong Kong and China extended gains on expectations a meeting between President Xi Jinping and business leaders will give a boost to private companies. Several analysts saw the conclave as a possible end to the years-long crackdown on the private sector. Separately, DeepSeek’s breakthrough in artificial intelligence has driven a rally of more than $1 trillion in Chinese shares. Federal Reserve Governor Christopher Waller said recent economic data support keeping US interest rates on hold. In commodities, oil held its advance after OPEC+ delegates said the group was considering delaying restoring output, and Ukrainian drones attacked a crude-pumping station in Russia. Gold held a gain after rising 0.5% on Monday. The Australian dollar held near a two-month high before the central bank meeting expected to see the first rate cut in four years. However, a strong labor market, resilient consumer spending, robust credit growth and a weaker currency could make the case for a hold, said Bloomberg Economics economist James McIntyre.
