China is willing to maintain communication with Russia and India on advancing trilateral cooperation, Foreign Ministry spokesman Lin Jian said at a press briefing in Beijing on Monday.
Lin made the statement in response to a query about the development of relations among the three countries.
"China, Russia and India are all emerging economies. Maintaining sound relations is not only in the respective interests of the three countries but also conducive to regional and global peace, security, stability and prosperity. China is ready to keep in communication with Russia and India on advancing cooperation among the three countries," Lin said.
China to maintain communication with Russia, India on trilateral cooperation
Japanese shares closed sharply lower Monday, with the Nikkei 225 plunging 3.9 percent to around 64,000 points as investors sold off heavyweight technology stocks, said Timothy Pope, a market analyst for China Global Television Network (CGTN).
Analysts said the drop, which briefly exceeded 4 percent intraday, reflected profit-taking after recent gains and mounting concerns over U.S. rate hikes and the Middle East conflict.
The 225-issue Nikkei Stock Average ended down 2,563.52 points, or 3.85 percent, from Friday at 64,024.60.
The broader Topix index finished 96.71 points, or 2.45 percent, lower at 3,852.38.
Artificial intelligence- and semiconductor-related shares led the decline, tracking Wall Street losses late last week amid growing expectations of a U.S. Federal Reserve rate hike later this year. Lingering uncertainty over the Middle East conflict also weighed on market sentiment.
Despite the Nikkei posting its fourth-largest intraday point drop on record, analysts said the move was more likely a temporary pullback following the recent rally, as growth hopes for the technology sector remain intact.
Pope noted that the tech slide coincided with fresh missile strikes by Israel and Iran, raising worries over higher fuel costs for energy‑import dependent Japan.
"Over in Tokyo the Nikkei 225 shed 3.9 percent to close back around 64,000 points. For the Nikkei the tech slump coincided with more missile strikes by Israel and Iran in the Middle East. For energy import dependent Japan, we are seeing the prospect of still higher fuel costs and that sent government bonds lower. The Japanese Yen also remains around 160 per dollar, which makes currency intervention a real worry for the markets as well. And despite the healthy real wage growth data out of Japan last week, the first quarter GDP was revised down today thanks to weak capital expenditure from businesses," said Pope.
Japanese shares drop sharply as Middle East conflict weighs on sentiment: analyst
