China Weekly Kickstart: Markets lost around 1%; President Xi conducted a US state visit

MXCN/CSI300 fell 0.8%/1.5% this week. President Xi conducted a state visit to the US from Sep 23 to 25, holding talks at the White House, while US and Chinese delegations held their eighth round of economic and trade consultations, reaching multiple consensuses including implementing previous agreements, arranging reciprocal tariff reductions, establishing trade and investment councils, and extending the joint trade arrangements reached in Kuala Lumpur. The PBOC maintained its monetary policy stance at its Q3 MPC meeting, but for the first time proposed bolstering financial support for "six networks" infrastructure. Insurance institutions eligible to trade Stock Connect stocks are permitted to invest in Stock Connect ETFs from Sep 20. A-share markets were closed on Sep 25 and will suspend trading from Oct 1 to 7. H: Health Care (3.5%) & New China (0.8%) outperformed, Materials (-4.2%) & Earnings Rev (-2.2%) lagged;