Asia stocks rise, oil slips ahead of Trump-Zelensky talks

Asian markets traded mostly higher on Monday while oil prices edged lower, as investors awaited talks in Washington between US President Donald Trump, Ukrainian President Volodymyr Zelensky, and several European leaders.

The meetings follow Trump’s summit with Russian President Vladimir Putin in Alaska on Friday, which ended without progress toward a ceasefire in Ukraine. Zelensky, however, hailed a US pledge of security guarantees for Kyiv as “historic.”

“Trump and Putin walked away without a ceasefire, not even the appearance of one,” said Stephen Innes of SPI Asset Management. “What they delivered was more theatre than substance—just enough progress for Trump to claim victory while setting aside threats of tariffs on Beijing for Russian oil purchases and sanctions on Moscow’s crude.”

US markets closed mixed on Friday after retail sales beat forecasts but both industrial production and consumer sentiment weakened. Oil prices, already volatile due to Russia’s central role in energy supply, extended their recent decline into Monday trading.

Japan’s Nikkei index hit a fresh record high, building on gains from Friday after stronger-than-expected GDP figures. Hong Kong, Shanghai, and Sydney stocks also advanced, while Taipei slipped into negative territory.

Investors will turn their attention later this week to the US Federal Reserve’s annual Jackson Hole symposium for potential signals on future interest rate policy.

Key figures at around 0130 GMT

Tokyo - Nikkei 225: UP 0.7 percent at 43,678.12
Hong Kong - Hang Seng Index: UP 0.1 percent at 25,293.34
Shanghai - Composite: UP 0.2 percent at 3,704.76
New York - Dow: UP 0.1 percent at 44,946.12 (close)
London - FTSE 100: DOWN 0.4 percent at 9,138.90 (close)
Euro/dollar: DOWN at $1.1699 from $1.1704 on Friday
Pound/dollar: DOWN $1.3556 at from $1.3557
Dollar/yen: UP at 147.47 yen from 146.85 yen
Euro/pound: DOWN at 86.30 pence from 86.34 pence
West Texas Intermediate: DOWN 0.2 percent at $62.69 per barrel
Brent North Sea Crude: DOWN 0.3 percent at $65.65 per barrel