Asian stocks rise after Biden, Xi hold video summit

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets are higher after President Joe Biden and China’s Xi Jinping held a summit meeting by video link. Market benchmarks in Shanghai, Tokyo and Hong Kong advanced. Sydney fell. Wall Street’s benchmark S&P 500 index lost less than 0.1% as makers of household goods rose and health care stocks fell. Biden told Xi their goal should be to ensure competition “does not veer into conflict.” The two leaders met amid tension over trade, technology, human rights, Hong Kong, Taiwan and other irritants. Xi said he was ready to “build consensus” and said the two sides need to improve communication.