China’s tech-heavy ChiNext Index surged to an all-time high on Wednesday, closing past the 4,000-point mark as investor optimism rose ahead of US President Donald Trump’s trip to Beijing.

The index, which tracks tech firms listed on Shenzhen’s Nasdaq-style ChiNext board, reached 4,038.33 by market close, its highest finish on record. Other Chinese stock indexes also made strong gains, with the Shanghai Composite Index rising to its highest level since 2015.

China’s stock markets have been on an upwards trend for months, with analysts pointing to the fundamental strength of Chinese firms across a slew of sectors. And Trump’s imminent arrival appears to have given stocks an extra boost, as some investors expect a deal to ease US-China trade tensions.

Trump is expected to land in China on Wednesday, joined by a coterie of American tech executives including Nvidia CEO Jensen Huang, Apple CEO Tim Cook and Elon Musk, CEO of Tesla and SpaceX, among others.

In a Wednesday note, Morgan Stanley said China’s equities market could see “moderate upside by the second quarter of 2027” based on “improved earnings and growing dominance in global upstream supply chains”.

The authors noted this week’s US-China summit could trigger “moderate index upside” if the two sides announced an extension to their one-year “trade truce” agreed in November.