China's Renminbi Gains, Hong Kong Outperforms, and Biden-Xi Meeting Confirmed

China's renminbi gains against the US dollar, leading to a weaker US dollar. Key tasks to improve financial services established at the Central Financial Work Conference. Hong Kong outperforms the region with strong breadth in all sectors. Foreign investors sell Mainland stocks via the Northbound Stock Connect. Asian markets expected to start the week strongly with a focus on the U.S.-Sino Presidential meeting and top-tier economic data. ICBC injects capital into its U.S. unit to settle trades with BNY Mellon after a ransomware attack. Global funds express optimism in South Korea's stock market, focusing on long-term catalysts such as improving earnings and recovery in global semiconductor sales.