HONG KONG (Reuters) – Hong Kong-listed shares of HSBC rose by the most in four months on Monday as the release of an executive at telecoms company Huawei fuelled hopes the global bank would benefit from an easing in tensions between the United States and China.

Meng Wanzhou (Haiku Chief Financial Officer) arrived in China this Saturday, ending a nearly three-year U.S. extradition struggle. This was the same day that two Canadians who were held for more than 1000 days by Beijing returned home.

Meng Wanzhou, Ren Zhengfei’s daughter, was released from U.S. prosecutors after they reached an agreement over fraud charges that Meng, who is accused of misleading HSBC about Huawei Technologies’ business dealings with Iran in 2013, was allowed to return home.

In their largest intraday percentage increase since May 28, HSBC shares rose by 3.5% to HK$41.10. HSBC was the second-biggest gainer in the Finance Index

“Anticipation that the bank’s mainland business may benefit from the easing tension provides an additional support to HSBC,” said Linus Yip, chief strategist at First Shanghai Group, adding bank stocks were being broadly supported by rising U.S. Treasury bills.

Beijing and Washington have been at odds over the extradition issue. Chinese officials indicated that they wanted to end the diplomatic impasse by indicating that the case must be dropped.

Washington’s China hawks are expressing concern at Joe Biden’s agreement, arguing that he is surrendering to China and one company in the middle of the global tech rivalry.