Yuan Hits Three-year High as Trump-Xi Summit Fuels Cautious Optimism, But Chinese Stocks Retreat on Profit-taking

The yuan hit a more than three-year high after the Xi-Trump summit eased fears of renewed U.S.-China escalation.

Chinese stocks pulled back as investors took profits after recent multi-year highs in the Shanghai Composite and CSI300.

The People’s Bank of China set a weaker-than-market yuan fixing, signaling caution about a too-rapid currency rise.

The move suggests markets expect calmer ties and steady export resilience, while authorities still want to protect exporters.