Chinese shares pulled back from a decade high on Thursday.
Investors appeared heartened by signs of cooling tensions between the world's top two economies after recent escalations, while also positioning defensively.
China's yuan retreated from a near one-year high against the dollar after the meeting.
The benchmark Shanghai Composite Index hit its highest level since 2015 in early trading but later weakened as much as 0.8%.
"The response from markets has been cautious in contrast to Trump's enthusiastic characterisation of the meeting with Xi as 'a 12 out of 10'," said Besa Deda, chief economist at advisory firm William Buck in Sydney.
"There are still some structural issues that have been left unresolved, which could be contributing to the market's response and takes some shine off the truce."
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