Hong Kong stocks hit a nearly two-month high, seemingly benefiting from the upcoming talk between Chinese and United States leaders.

The benchmark Hang Seng Index once hit 20,885 points in the morning session. It ultimately rose 2 percent to 20,622 points by midday.

US President Donald Trump said his administration plans to speak with China, raising the possibility of a potential reprieve on a 10 percent tariff set to take effect within hours after he delayed levies on Canada and Mexico.

Xiaomi (1810) and Semiconductor Manufacturing International Corporation (0981) both hit another record high – once rising 5.3 percent and 8.2 percent, respectively.