Key points
- Zelensky praises US security guarantees
- Oil rises, markets eye Fed meeting
TOKYO, Japan: Asian stocks were mostly higher Monday ahead of talks between Donald Trump, Ukrainian President Volodymyr Zelensky, and European leaders in Washington.
US President Trump met Russian President Vladimir Putin in Alaska on Friday, but the summit failed to yield any breakthrough on a ceasefire in Ukraine.
Zelensky, who will be joined in Washington by European leaders, however called a US offer of security guarantees to Ukraine “historic”.
Before the Alaska talks, US stocks wavered on Friday after mixed economic data, with retail sales up but an industrial production index and a consumer survey both down.
Oil prices up
After a drop on Friday, oil prices, which have been volatile for several days — Russia is a major crude producer — were up Monday.
Japan’s Nikkei ended up, posting a new record high and adding to gains on Friday after better-than-expected economic growth data.
Thailand’s economy also grew by 2.8 per cent in the second quarter, the country’s economic planning agency said on Monday, boosted by strong exports ahead of US tariffs taking full effect.
But the National Economic and Social Development Council (NESDC) forecast overall growth for 2025 to fall between 1.8 and 2.3 per cent. This is below the 2.5 per cent seen in 2024, with the NESDC blaming the expected drop on the likely impact of US tariffs.
Federal Reserve’s annual retreat
Hong Kong, Shanghai, Sydney and Taipei were higher Monday, while Seoul and Jakarta fell back.
In Europe, London saw early gains while Paris and Frankfurt fell slightly at the open.
This week investor eyes will be on any clues on US interest rates at the Federal Reserve’s annual retreat at Jackson Hole.
Tokyo – Nikkei 225: UP 0.8 percent at 43,714.31 (close)
Hong Kong – Hang Seng Index: UP 0.2 percent at 25,327.51
Shanghai – Composite: UP 0.9 percent at 3,728.03 (close)
New York – Dow: UP 0.1 percent at 44,946.12 (close)
London – FTSE 100: UP 0.3 percent at 9,164.54
Euro/dollar: DOWN at $1.1695 from $1.1704 on Friday
Pound/dollar: DOWN $1.3546 at from $1.3557
Dollar/yen: UP at 147.38 yen from 146.85 yen
Euro/pound: FLAT at 86.34 pence from 86.34 pence
West Texas Intermediate: UP 0.6 percent at $63.19 per barrel
Brent North Sea Crude: UP 0.5 percent at $66.16 per barrel
