China's Xi keeps Iranian president at arm's length weeks ahead of Trump summit

China’s Xi hosted Iran President Pezeshkian in a brief, low-profile meeting at the SCO summit, signaling Beijing is trying to avoid looking too closely aligned with Tehran ahead of a key Trump-related summit. The move implies heightened diplomatic risk and potential uncertainty around U.S.–Iran and China–Iran positioning. Market impact is likely moderate, mainly through geopolitical risk sentiment rather than direct economic indicators.