Asian Markets Cautious after Zelensky-Trump Talks

Alsharq Tribune- Mohamed Otaify 

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, AFP said.

Tokyo, Sydney and Seoul were down slightly, while Hong Kong, Shanghai and Singapore were in the green.

SoftBank shares fell two percent after it said it would invest $2 billion in Intel, as the US government reportedly considers taking a 10-percent stake in the troubled US chip giant.

Fresh impetus for investors could come from a speech this week by US Federal Reserve chief Jerome Powell at the annual retreat of global central bankers in Jackson Hole.

Markets hope Powell will provide more clues about Fed plans for interest rates when it meets next month, after data last week provided a mixed picture about 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.