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Market Chatter: China Envoy Slams U.S.-Bahrain Resolution on Hormuz Strait

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China's U.N. ambassador Fu Cong rejected a proposed U.S.-Bahraini resolution on the Strait of Hormuz, calling the content and timing "not right," Reuters reported Saturday.

Passing it now "is not going to be helpful," Fu said, urging both sides to pursue good-faith negotiations instead, according to the report.

Fu added that China, as current Security Council president for the month of May, would not put the resolution to a vote, though a formal request from drafters has not yet been made, Reuters wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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