China–Russia Mega Trade Deal Jolts Markets: Stocks React to New Pact
Russia’s parliament ratified a new investment and trade treaty with China on Oct. 27, including the Power of Siberia-2 gas pipeline memorandum and plans to settle more trade in yuan and rubles. China’s Shanghai Composite and Hong Kong’s Hang Seng fell, while Russia’s MOEX rose. Bilateral trade reached $244.8 billion in 2024 but dropped 9% in early 2025. Oil and gold prices climbed following the announcement.
