Hong Kong stocks mixed on Tuesday as investors looked for clues on the pace of interest-rate cuts while US President Donald Trump said he would speak with Chinese President Xi Jinping on Friday and the two countries reached an agreement to keep TikTok operating in the US.

The Hang Seng Index fell 0.03%, while the Hang Seng Tech Index both rose 0.6%.

In terms of star stocks, Trip.com rose 4%; Meituan, Li Auto, and NIO rose 3%; BYD and Bilibili rose 2%; NetEase rose 1%; Xiaomi rose 0.4%; Tencent rose 0.2%; TransThera Sciences fell 54%; Mixue, JD.com, and Pop Mart fell 1%; Alibaba fell 0.7%.

Hesai Group, the world’s largest supplier of lidar sensors for self-driving cars, jumped 10% in its secondary-listing debut in Hong Kong on Tuesday.

On Monday, US and Chinese officials reached a framework agreement to shift TikTok to US-controlled ownership, a breakthrough in fraught negotiations that will be confirmed in a Friday call between Trump and Xi.

The two sides “reached a basic framework consensus on properly resolving TikTok-related matters through cooperation, reducing investment barriers and promoting relevant economic and trade cooperation”, Chinese state-owned Xinhua News Agency reported on Tuesday.

Overnight in the US, expectations of a Federal Reserve rate cut this week sent the S&P 500 Index 0.5% higher, while the Nasdaq Composite Index gained 0.9%.