The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 3.35 percent higher at 2,019.44 points on Friday.
The STAR 50 Index, which tracks the 50 largest stocks listed on the board that also meet certain liquidity requirements, closed 2.51 percent higher at 1,744.02 points.
The sci-tech innovation board, commonly known as the STAR Market, was inaugurated in June 2019 at Shanghai Stock Exchange. It is designed to support companies in the high-tech and strategic emerging sectors.
China's STAR Composite Index closes higher Friday
As the United States renews its diplomatic push to end the conflict between Russia and Ukraine, a Chinese international affairs expert cautioned that a lasting peace remains elusive unless fundamental disputes over territory and security guarantees are addressed.
The Chinese expert's remarks came after U.S. special envoys Steve Witkoff and Jared Kushner met with Russian President Vladimir Putin in Moscow on Saturday in efforts to revive Ukraine peace talks. They are also scheduled to visit Kiev the following day.
Meanwhile, both Russia and Ukraine have agreed to halt strikes on each other's capital during the U.S. envoys' visits.
Teng Jianqun, a prominent Chinese international affairs expert, noted that the current geopolitical climate presents a genuine, albeit fragile, window of opportunity for peace.
"Looking at the current situation, this is indeed a window of opportunity. Since February of this year, the United States has primarily focused its attention on dealing with Iran. Now, six months later, Washington is once again urging a Russia-Ukraine ceasefire, signaling that the U.S. has readjusted its strategic focus. In terms of battlefield dynamics, fighting on the frontline has become highly deadlocked. Therefore, it is a critical moment now for both sides to pause and negotiate a resolution to this conflict," said Teng.
Teng added that the U.S. has maintained communication with both Moscow and Kiev, which lays a necessary foundation for discussing a potential ceasefire.
However, the expert warned that significant obstacles remain, particularly regarding territorial sovereignty and the security guarantees that Ukraine demands.
"Given the current situation in the Russia-Ukraine conflict, expecting Russia to withdraw, or asking Ukraine to accept a 'land for peace' plan, are both unacceptable to either side. Therefore, the core issue remains to be territorial sovereignty. Meanwhile, Ukraine's security guarantees represent another fundamental concern. If these two basic issues are unresolved, I believe the conflict will continue," said Teng.
Expert warns U.S. unlikely to end Ukraine crisis without resolving core issues
