Chinese stocks soar as Obama visits Shanghai


In Asia Monday, China's Shanghai Composite Index added 2.7% to close at 3,275 and Hong Kong's Hang Seng Index rose 1.7%, ending the day at 9,791. In Japan, the Nikkei Index settled 0.2% higher to close at 9,791.

President Obama's first official visit to China will address a wide range of topics from global warming to the economy, and will also underscore the enormous trade deficit -- while Americans' love affair with cheap Chinese goods has buoyed the Chinese economy, Chinese customers have little need for expensive, American-made products. And as their economy continues to develop, it seems the Chinese can fill their own needs quite handily.