The markets are anticipating the Chinese president's visit to America for the first time since 2017

The global economic markets await, the upcoming meeting between the heads of the two largest economies in the world; As Chinese President Xi Jinping, today Wednesday November 15, 2023, is visiting the United States for the first time since 2017 when he met former American President Donald Trump.

And a large part of the files that the Chinese president will discuss with his American counterpart, this time Joe Biden, relates to the legacy left by Trump, which for years has colored the relationship between the two largest economies in the world.

The markets benefiting from the visit of the Chinese president

Among the stocks that investors are looking at when this meeting is held, technology stocks are at the forefront, from Apple to Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC), Samsung and Nvidia. All stocks will benefit from Washington's relaxation of restrictions imposed on the export of technology to China.

Also, the shares of industries related to green energy are candidates to strongly benefit from the resolution of the relationship between Beijing and Washington, and market followers see that the manufacturers of electric cars and their batteries are among the most optimistic about the success of this meeting.

And Boeing benefited in advance from this meeting, after news spread about China's intention to apply for the purchase of 737 Max aircraft.

At the start of the day, the dollar fell to low levels today Wednesday after retreating overnight with the release of a surprise weaker inflation reading in the United States, boosting bets that the Federal Reserve Board (central bank) has reached the end of its monetary policy tightening cycle. And gold prices rose today near 1970 dollars per ounce.

All eyes on China's Huawei

Another company in the spotlight will be the Chinese Huawei, which since 2019 has been subject to sanctions and scrutiny by the American authorities, limiting the company's ability to access the technology it needs from global suppliers.

And the company was able to produce its first smartphone based on a 5G processor made in China, a step that changed the rules of the game and qualifies the Chinese company to strongly benefit from the improvement in relations between Washington and Beijing.

It is mentioned that relations between the two countries are tense due to several files, most notably trade, Ukraine, the Middle East, and Taiwan, and what the United States considers Chinese expansionist moves in the waters adjacent to the Philippines.

Chinese Foreign Minister Wang Yi paid a visit to Washington at the end of last month, during which he met with President Biden and senior American officials, including Secretary of State Anthony Blinken and National Security Advisor Jake Sullivan.