World shares higher ahead of talks between Biden, China’s Xi

By ELAINE KURTENBACH
AP Business Writer

Shares have advanced in Europe and Asia ahead of virtual talks between President Joe Biden and Chinese President Xi Jinping. The talks were to take place late Monday U.S. time. Benchmarks rose in Paris, Tokyo and Frankfurt but fell in Shanghai. Plans for stimulus in Japan overshadowed news that its economy contracted in the last quarter. China reported a mixed bag of data, with stronger retail sales and factory output but weaker housing prices and investments in fixed assets. On Friday, stocks closed higher on Wall Street but the market still ended the week lower.