After U.S. equities slightly recovered from their record highs on Friday, BANGKOKAsian shares were largely up Monday.
As investors awaited developments in the Ukraine conflict after a summit between Russian President Vladimir Putin and President Donald Trump that produced no breakthroughs, U.S. futures saw minimal movement.
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Hong Kong’s Hang Seng rose 0.3% to 25,344.48 and Japan’s Nikkei 225 increased 0.9% to 43.776.38.
At 3,740.50, the Shanghai Composite index increased 1.2%.
South Korea’s Kospi fell 1.3% to 3,184.17, while Australia’s S&P/ASX 200 remained essentially flat.
Trump was getting ready to travel to Washington later Monday to meet with Ukrainian President Volodymyr Zelenskyy and other European leaders.
Trump’s meeting with Russian President Vladimir Putin last Friday did not involve the European vanguard. They are attempting to put up a united front in order to protect Ukraine and the continent from Moscow’s growing aggression.
Attention is also being drawn to a yearly gathering of leading central bankers in Jackson Hole, Wyoming, later this week.Jerome Powell, the head of the Federal Reserve, is scheduled to appear at the economic policy conference on Friday.
Despite conflicting assessments on the U.S. economy, there have been growing expectations that the Fed will lower interest rates at its upcoming meeting in September.
Customers increased their spending at U.S. stores last month, according to one study released on Friday, while another stated that manufacturing in New York State climbed surprisingly. A third claimed that last month, when experts were expecting slight rise, industrial production nationwide decreased.
Another research indicated that, despite experts’ expectations of a modest rebound, consumer morale in the United States is deteriorating due to concerns about inflation.
After renowned investor Warren Buffett’s Berkshire Hathaway said that it had purchased over 5 million shares of UnitedHealth Group during the spring, valued at $1.57 billion, the company’s stock rose 12% on Friday on Wall Street. Buffett is renowned for attempting to purchase quality stocks at reasonable costs, and due to a string of difficulties, UnitedHealth had cut its annual revenue in half by the end of July.
The stock of Berkshire Hathaway fell 0.4%.
Applied Materials announced better-than-expected results for the most recent quarter, yet it still contributed to Wall Street’s 14.1% decline. The company’s prediction of a decline in revenue for the current quarter was the main focus.
Its goods aid in the production of semiconductors and cutting-edge screens, and CEO Gary Dickerson noted that the current macroeconomic and policy landscape is changing, increasing unpredictability and decreasing visibility in the near future, especially for our China business.
Despite earning a profit for the most recent quarter that above analysts’ forecasts, Sandisk saw a 4.6% decline. Instead, investors concentrated on the data storage company’s current quarter profit prediction, which fell short of Wall Street’s.
The S&P 500 dropped 0.3% to 6,449.80 on Friday. At 44,946.12, the Dow Jones Industrial Average increased by 0.1%. At 21,622.98, the Nasdaq composite fell 0.4%.
In other transactions early Monday, Brent crude, the global benchmark, lost 6 cents to $65.79 per barrel, while U.S. benchmark crude oil fell 2 cents to $62.82 per barrel.
The value of the US dollar increased from 147.18 to 147.38 Japanese yen. At $1.1703, the euro remained unchanged.
