Xi says China to deepen building of community with shared future with Myanmar

China will deepen the building of a community with shared future with Myanmar, Chinese President Xi Jinping said during his meeting with Myanmar's leader Min Aung Hlaing in the Russian capital Moscow on Friday.

The meeting between the two leaders came on the sidelines of the celebrations marking the 80th anniversary of the victory in the Soviet Union's Great Patriotic War.

Xi said that China and Myanmar are part of a community with a shared future who have always supported each other while sharing weal and woe.

Noting that this year marks the 75th anniversary of the establishment of diplomatic relations between the two countries, Xi said China will remain committed to fostering an amicable, secure and prosperous neighborhood of shared future, uphold the principles of amity, sincerity, mutual benefit and inclusiveness, push for high-quality Belt and Road cooperation, and implement the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, so as to bring more benefits to the people of the two countries.

China supports Myanmar in following a development path suited to its own national conditions, in upholding its sovereignty, independence, territorial integrity and national stability, and in steadily advancing its domestic political agenda, Xi said.

Xi urged China and Myanmar to deepen strategic cooperation and to continue advancing the construction of key projects in the China-Myanmar Economic Corridor. Myanmar should ensure the safety of Chinese personnel, institutions and projects in the country and intensify efforts to crack down on cross-border crimes including online gambling and fraud, Xi said.

Both countries should jointly safeguard the international system with the United Nations at its core and the international order underpinned by international law, and protect the legitimate rights and interests of developing countries, Xi noted.

For his part, Min Aung Hlaing said that after Myanmar was hit by a major earthquake in March, China was among the first to extend condolences and provide disaster relief assistance. This exemplifies the "pauk-phaw" friendship between the two countries, one that the Myanmar people will always remember, he said.

Myanmar attaches great importance to its relations with China and will always be a friendly neighbor China can trust, said Min Aung Hlaing, adding that Myanmar is dedicated to advancing bilateral cooperation in areas such as trade and energy and will do its utmost to ensure the safety of Chinese projects and personnel in the country.

He noted that Myanmar highly appreciates the three major global initiatives proposed by China and the vision of building a community with a shared future with neighboring countries, and stands ready to work with China to address common challenges.

Xi says China to deepen building of community with shared future with Myanmar

Xi says China to deepen building of community with shared future with Myanmar

Xi says China to deepen building of community with shared future with Myanmar

U.S. stocks ended higher on Monday, recovering from early session heavy losses, as indications of a potential swift conclusion to the ongoing U.S.-Israeli strikes on Iran triggered a sharp pullback in global oil prices.

The Dow Jones Industrial Average rose 239.25 points or 0.5 percent, to 47,740.8. The S and P 500 added 55.97 points or 0.83 percent to 6,795.99. The Nasdaq Composite Index increased by 308.27 points or 1.38 percent, to 22,695.95.

Nine of the 11 primary S and P 500 sectors ended in the green. Technology and communication services led the gainers, advancing 1.8 percent and 1.13 percent, respectively. Meanwhile, the financials and energy sectors led the laggards, declining 0.52 percent and 0.43 percent, respectively.

The broader market turned positive in afternoon trading following remarks from U.S. President Donald Trump suggesting the war with Iran could conclude sooner than anticipated. He reportedly told a CBS journalist that "the war is very complete, pretty much."

The geopolitical developments prompted a dramatic reversal in energy markets. West Texas Intermediate crude oil futures for April delivery, which had surged past 119 U.S. dollars per barrel in overnight trading for the first time since 2022, settled at 94.77 dollars a barrel.

The sudden drop in oil prices immediately relieved travel and leisure equities, which are highly sensitive to fuel costs. Shares of major U.S. carriers, including Delta Air Lines, United Airlines, and American Airlines, alongside cruise operators such as Norwegian Cruise Line, Carnival, and Royal Caribbean, erased earlier losses to finish higher.

In the technology sector, all of the major "Magnificent Seven" stocks rebounded from early declines to post gains. Additionally, memory chip manufacturers saw significant upward movement, with SanDisk and Western Digital finishing up nearly 12 percent and 7 percent, respectively.

Despite the session's optimism, some market experts warned that investors might underestimate the risks of a broader economic recession or an equity market correction. Analysts at Deutsche Bank noted that a continuous stream of global shocks over the past four years has left investors somewhat desensitized to short-term disruptions, leaving overall equity positioning slightly below neutral.

Conversely, analysts at Morgan Stanley offered a more optimistic outlook, forecasting that U.S. equities will likely remain constructive for at least another year despite the elevated geopolitical risks. "We think we're closer to the end of this rolling correction than the beginning and remain constructive over the next 6-12 months," analysts said.

U.S. stocks finish higher as Trump says war could be over soon