The 2018 Jinshanling Great Wall International Marathon has begun, with 1,500 athletes from 20 countries running along the ancient Great Wall of China, Jinshanling, on a spring day. This is a great event for Chinese and foreign marathon enthusiasts, April 15, 2018. International runner of the Jinshanling Great Wall International Marathon. (Photo credit: Hou Jiqing/Future Publishing, Getty Images)
Photo | Future Publishing | Getty Images
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
Over the past two weeks, China has become a destination not only for runners looking to conquer the Great Wall Marathon over the weekend, but also for world leaders.
Days after Air Force One departs from Beijing, Russian President Vladimir Putin is scheduled to visit the Chinese capital for talks with Chinese President Xi Jinping.
Meanwhile, the war with Iran appears to be shaping up to be a marathon for US President Donald Trump, who once again warned Tehran that “if it doesn’t move, there will be nothing left.”
What you need to know today
Over the weekend, nearly 1,500 runners from about 50 countries descended on Beijing to take part in the Great Wall Marathon. The marathon is a grueling race that passes through some of China’s capital’s most historic sites and traverses part of the Great Wall of China.
The tour’s website advertised the event as “a grueling 46.2 miles with over 20,000 uneven stairs!”
In addition to runners, world leaders also visited Beijing, albeit for a less strenuous endeavor.
Immediately after the summit meeting with President Trump, President Xi is preparing to welcome Russian President Vladimir Putin as his new guest.
Putin’s visit comes as the United States and China seek to stabilize relations. The White House on Sunday released a fact sheet detailing how China will purchase at least $17 billion in agricultural products in addition to its October 2025 soybean purchase commitment.
Iran has also cast a shadow over last week’s Trump-Xi summit. Although President Trump has insisted that China will cooperate in the Iran conflict, analysts told CNBC that it remains unclear how much influence Beijing has or is willing to get involved.
On Sunday, President Trump renewed his threat to Iran to strike a deal or face military action, repeating previous threats that have so far made little progress toward resolving the conflict.
Meanwhile, the vital Strait of Hormuz remains closed, raising concerns about dwindling oil reserves and further oil shocks, the International Energy Agency said in a statement, along with banks and energy executives.
Oil prices rose in early trading on Monday, with U.S. West Texas Intermediate futures both up about 3% to $108.63 per barrel and international benchmark Brent crude oil rising more than 2% to $111.92 per barrel.
U.S. stock futures were little changed as traders awaited results from Nvidia and U.S. retailers, while Asian markets fell on oil supply concerns. South Korea’s Kospi fell more than 3% on the move.
Investors will also be watching for key economic indicators such as urban unemployment, retail sales and industrial production to be released later today.
— Lim Huijie
