Asian markets were little changed Tuesday after Wall Street treaded water and US President Donald Trump held what he called “very good” talks with Ukrainian and European leaders on ending the three-year war.
Hopes for a breakthrough rose after Trump said he spoke by phone with Russian counterpart Vladimir Putin — whom he met in Alaska last week — after hosting the Europeans and Ukrainian President Volodymyr Zelensky at the White House.
“At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelensky,” Trump said.
Oil prices, which have been volatile for several days — Russia is a major crude producer — fell back after gains on Monday.
Tokyo, Sydney, and Seoul saw minor declines, whereas Hong Kong, Shanghai, and Singapore experienced gains.
Shares of SoftBank dropped by two percent following an announcement that the company plans to inject $2 billion into Intel, amid reports that the U.S. government may acquire a 10% ownership interest in the struggling American semiconductor firm.
A new boost for investors might arise from a speech this week by U.S. Federal Reserve Chair Jerome Powell at the yearly gathering of international central bank officials in Jackson Hole.
Investors expect Powell to offer further insights into the Federal Reserve’s future decisions on interest rates during their upcoming meeting, following recent data that presented an inconsistent outlook on inflation.
“Even a nod to easing (by Powell) could be enough to trigger profit-taking, and a hint of caution could set off a scramble for the exits,” Stephen Innes at SPI Asset Management said.
Prominent individuals at approximately 0300 GMT
Tokyo – Nikkei 225: DOWN 0.1 percent at 43,652.32
Hong Kong – Hang Seng Index: UP 0.1 percent at 25,195.36
Shanghai – Composite: Up 0.2% to 3,733.74
New York – Dow: UP 0.1 percent at 44,946.12 (close)
London – FTSE 100: UP 0.2 percent at 9,157.74 (close)
Euro/U.S. Dollar: Decreased to $1.1652 from $1.1666 on Monday
Pound/dollar: DOWN at $1.3498 from $1.3503
Dollar/Yen: Decreased to 147.78 yen from 147.89 yen
Euro/pound: DOWN at 86.33 pence from 86.40 pence
West Texas Intermediate: DOWN 0.5 percent at $63.12 per barrel
Brent crude oil from the North Sea: Decreased by 0.3% to $66.32 per barrel