“China is willing to deepen cooperation with Russia within multilateral frameworks including the G20,” said Chinese Vice Foreign Minister Ma Zhaoxu to Russian Ambassador to China, Andrey Denisov, per Reuters.

The news published during early Wednesday morning in Europe also mentioned that China is also willing to strengthen strategic coordination with Russia and expand practical cooperation in various fields, Ma told Denisov in a meeting on Tuesday, according to a statement from the Chinese foreign ministry on Wednesday.

Market reaction

Global markets paid a little heed to the news as traders await Fed Minutes, while also licking the recession-led wounds. It’s worth noting, however, that the S&P 500 Futures remain mildly offers around 3,830 amid market’s indecision.

Also read: S&P 500 Futures stay pressured, yields bounce off five-week low amid recession risk