China's mainland stock market recorded its largest single-day drop in nearly a month on Thursday, with Hong Kong stocks also declining. Investors are skeptical about whether the meeting between US President Donald Trump and Chinese President Xi Jinping in Washington can achieve a broader breakthrough. US Treasury Secretary Scott Bessent stated that the two countries agreed to extend the trade truce by two months, but this period is shorter than the market's expectation of one year, which also exacerbated market pessimism.