BEIJING: Beijing said Thursday it was willing to mediate between Pakistan and Iran following an exchange of fire against militant targets in their border region, including a strike that Tehran said killed at least seven civilians.
“The Chinese side sincerely hopes that the two sides can exercise calm and restraint and avoid an escalation of tension,” foreign ministry spokeswoman Mao Ning told a regular press conference.
“We are also willing to play a constructive role in de-escalating the situation if both sides so wish,” she said.
Nuclear-armed Pakistan and neighboring Iran are both battling simmering insurgencies along their sparsely populated border regions.
On Thursday, Pakistan said it carried out strikes against militant targets in Iran.
Tehran said it had summoned the Pakistani charge d’affaires in response to the attack, which killed at least seven people.
Both countries are close partners of Beijing and members of the Shanghai Cooperation Organization.
Mao reiterated Iran and Pakistan were “friendly countries to China, and countries with important influence.”
China says willing to mediate between Pakistan and Iran after strikes
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China says willing to mediate between Pakistan and Iran after strikes
- Pakistan, Iran are both battling simmering insurgencies along their sparsely populated border regions
- Both countries are close partners of Beijing and members of the Shanghai Cooperation Organization
Pakistan stocks rebound on easing regional tensions, gain over 1,500 points
- The development came after Iran said it was keeping communication channels with Washington open amid cost-of-living protests
- It followed a threat by President Donald Trump last week to intervene militarily if Tehran continued cracking down on protesters
ISLAMABAD/KARACHI: The Pakistan Stock Exchange (PSX) edged higher on Tuesday as the benchmark index gained more than 1,500 points, with analysts citing easing regional tensions following signals of potential talks between Iran and the United States (US).
The benchmark KSE-100 index gained 1,567.36 points, or 0.86 percent, to close at 183,951.50 points, compared to the previous close of 182,384.14 points when the market had shed more than 2,000 points, according to PSX data.
Iran has been witnessing public unrest over worsening economic conditions. Around 2,000 people, including security personnel, have been killed in violent protests, Reuters reported, citing an Iranian official.
Tehran said on Monday that it was keeping communication channels with Washington open as US President Donald Trump imposed 25 percent tariffs on countries trading with the Islamic republic.
“Stocks showed sharp recovery at PSX after Iran and US signal talks over unrest in Iran,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.
“Surging global crude oil prices and speculations ahead of corporate results in the earnings season played a catalyst role in bullish close.”
Najeeb Ahmed Khan Warsi, digital and retail business officer at Al-Habib Capital Market, said the index had seen a three-day bearish streak.
“Geopolitics and global volatility driving downturn, profit-taking and economic concerns weigh in,” he added.
Meanwhile, Pakistani market research firm Topline Securities said the benchmark index ended the session on a “positive note” on Tuesday.
“Trading interest remained subdued, as total market volumes reached 1,033 million shares, while the value of shares traded stood at Rs62.9 billion,” it said in a daily market review on X.
United Bank Limited (UBL), National Bank of Pakistan (NBP), Muslim Commercial Bank Limited (MCB), Lucky Cement Limited (LUCK) and Meezan Bank Limited (MEBL) jointly contributed 936 points to the index, according to the research firm.
Fauji Fertilizer Company Limited (FFC), Sazgar Engineering Works Limited (SAZEW) and Haleon Pakistan Limited (HALEON) collectively shaved 158 points off the index.
“Bank of Punjab (BOP) led the volume rankings, emerging as the most actively traded stock with 73 million shares,” Topline Securities added.
