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On March 25, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held a telephone conversation with Egyptian Foreign Minister Abdel-Ati at the latters request. Wang Yi stated that both China and Egypt are responsible major powers, opposing military action without authorization from the UN Security Council, attacks on civilians and civilian infrastructure, and disapproval of the spillover effects on Gulf states. The situation in the Middle East is rapidly changing, with the US and Iran both releasing signals of negotiation, offering a glimmer of hope for peace. Continuing this war will only bring more casualties and unnecessary losses, leading to further spillover effects. The international community should actively promote dialogue among the conflicting parties; as long as talks begin, there is hope for peace. The Security Councils actions should help ease tensions and promote dialogue, preventing the escalation of the conflict and not granting a license for the use of force. China supports Egypts continued mediating role in promoting the resumption of peace talks and a cessation of the war, and China is willing to continue making constructive efforts in this regard.On March 25, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, spoke by phone with Turkish Foreign Minister Fedan Ibrahim at the latters request. Wang Yi stated that the rights and wrongs of the Middle East conflict are very clear, and the international community needs to maintain an objective and impartial stance. Currently, the conflict is rapidly spilling over into the entire region. The urgent task is to actively promote peace talks, seize the opportunity for peace, and push for an end to the fighting. China supports regional countries in remaining calm, rationally addressing the current crisis from the perspective of long-term and fundamental interests, adhering to resolving contradictions and differences through dialogue, and supporting Turkey in playing a constructive role in promoting the resumption of negotiations.US President Trump: The current chaos at the airport is the fault of the Democrats. They want our country to perform poorly. They want our country to fail. They undermined the bills that have already been signed because they want to take care of criminals who illegally entered our country, not American citizens. I may call in the National Guard to provide more assistance.Ukrainian Foreign Minister: In early 2022, while most of the world was still adjusting to the situation, Ukraine had already recaptured the Kyiv region and other areas with limited external support.Ukrainian Foreign Minister: Ukraine has recovered more territory than Russia occupied, and we achieved this primarily through our own capabilities. In early 2022, while most of the world was still adjusting, Ukraine had already recaptured the Kyiv region and other areas with limited external support.

Hang Seng Index, ASX200, Nikkei 225: The Markets Respond to the Fed

Cory Russell

Feb 02, 2023 16:15


Market Snapshot

The morning session was upbeat as the Asian equities markets reacted to the Fed's overnight interest rate rise and Powell's news conference. The Fed increased interest rates by 25 basis points to 4.75%, as anticipated. The action put Fed Chair Powell in charge of market risk sentiment, bolstering the Hang Seng Index's positive opening.


Support came from a favorable view of the economy, the state of the job market, and the prognosis for monetary policy. While conceding that the disinflationary process has begun, Fed Chair Powell said the Fed might deliver a couple more rate rises to return inflation to its objective.


The Fed Chair said that there wouldn't need to be "a major downturn, or a very large rise in unemployment" for the Fed Funds Rate to remain below 5% and achieve the inflation objective.


Despite Fed Chair Powell's upbeat prognosis, the US ADP nonfarm job change and ISM Manufacturing PMI statistics underperformed, casting doubt on the economy's prospects.