KOSPI, a major outperformer in recent weeks, added 0.2%

Asian stocks clocked mild gains on Thursday, aided by some strength in chipmaking and technology stocks, while Chinese shares dropped as a high-level China-U.S. summit started in Beijing.

Chinese shares lagged their peers on Thursday, with the Shanghai Shenzhen CSI 300 and Shanghai Composite indexes declining 0.8% and 0.7%, respectively. The indexes hit a 4-½ year and a 11-year high, respectively, earlier this week, and faced some profit-taking.

Chinese shares had risen sharply ahead of a widely anticipated meeting between Chinese President Xi Jinping and U.S. President Donald Trump on Thursday.

The two are set to discuss a host of major issues, including trade tariffs and artificial intelligence. Trump reached Beijing on Wednesday with a cadre of major business leaders, raising hopes for improving ties between the world’s largest economies.

Broader Asian markets clocked small gains on support from technology stocks, although a rally in the sector now appeared to have run its course.

KOSPI, a major outperformer in recent weeks, added 0.2%, as did Nikkei 225 index.

Hang Seng advanced 0.7%, aided chiefly by a 5% rally in Alibaba Group Holding Ltd after the internet giant said it will spend more on artificial intelligence in the next three years, helping investors look past dismal fourth-quarter earnings.

Still, the earnings did show some early returns on Alibaba’s AI spending.

Other bourses dropped. ASX 200 slipped 0.1%, extending losses into a fifth straight session amid growing concerns over an economic and inflationary shock from the Iran war.

Straits Times index slid 0.2%, while futures for Nifty 50 index dropped 0.2%.