Asia markets mixed amid caution over Russia-Ukraine peace talks

[Financial stock market numbers and city light reflection]
Nikada

Asia shares trade mixed on Tuesday as investors grew cautious over the ongoing Russia-Ukraine peace talks and upcoming signals from the Federal Reserve. Markets are closely watching for any further developments following the meeting between U.S. President Donald Trump, Ukrainian President Volodymyr Zelensky, and European leaders at the White House.

S&P Global on Monday affirmed its 'AA+' credit rating on the United States with a stable outlook, stating that revenue from President Donald Trump’s tariffs on other countries is expected to offset the fiscal impact of his recent spending bill.

Silver fell below $38 per ounce on Tuesday, giving up the previous session’s gains as signs of progress in Ukraine peace negotiations dampened safe-haven demand.

Gold prices rose above $3,330 per ounce on Tuesday as investors weighed US-led efforts to end the war in Ukraine.

Japan (NKY:IND [https://seekingalpha.com/symbol/NKY:IND]) fell 0.10% to around 43,650 while the broader Topix shed 0.1% to 3,118 on Tuesday, as Japanese equities eased from record highs amid profit-taking and cautious sentiment. The Japanese yen [https://seekingalpha.com/symbol/USD:JPY#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] hovered near 148 per dollar on Tuesday after falling about 0.5% in the previous session

On the corporate front, SoftBank Group dropped 2%, retreating from all-time highs after reports that it plans a $2 billion investment in struggling US chipmaker Intel.

China (SHCOMP [https://seekingalpha.com/symbol/SHCOMP]) rose 0.28% to around 3,725 while the Shenzhen Component fell 0.3% to 11,800 on Tuesday, as mainland shares pulled back from recent highs amid profit-taking after a historic rally, and the offshore yuan [https://seekingalpha.com/symbol/USD:CNY#source=url_first_level%3Amarket-news%7Csection%3Aglobal%7Csection_asset%3Afull_story%7Cbutton%3Abody_link] held near 7.19 per dollar on Tuesday, trading within a tight range.

China has extended its anti-subsidy investigation into European Union dairy imports by six months, pushing the deadline to February 21, 2026. The probe, which includes EU cheese, milk, and cream products, was launched amid escalating trade tensions following the EU’s 2023 investigation into Chinese-made electric vehicles.

In China, markets now await this week’s loan prime rate decision, with expectations leaning toward an unchanged stance.

Hong Kong (HSI [https://seekingalpha.com/symbol/HSI]) rose 0.25% to 25,211 in early Tuesday trade, marking a fourth straight drop.

India (SENSEX [https://seekingalpha.com/symbol/SENSEX]) rose 0.21% as investors priced in higher government borrowing after Prime Minister Modi announced sweeping GST tax cuts during his Independence Day address on Friday.

India’s trade authority has recommended a three-year safeguard duty of 11–12% on certain steel imports, mainly from China, to protect local producers.

Markets now watched this week’s Reserve Bank of India debt auction, as central bank operations could influence liquidity and demand for government securities.

Australia (AS51 [https://seekingalpha.com/symbol/AS51]) fell 0.75% to 8,910 on Tuesday, pulling back from a record high in the previous session and ending a three-day winning streak. The Australian dollar [https://seekingalpha.com/symbol/AUD:USD#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]

Domestically, the Westpac-Melbourne Institute Consumer Sentiment Index climbed 5.7% month-on-month to a more than three-year high of 98.5 in August 2025.

In the U.S. on Monday, all three major indexes ended near the flatline, as investors paused after a strong run, with the S&P 500 and the Nasdaq mostly muted, while the Dow dipped roughly by 0.1%.

Market attention is shifting to a busy week ahead, featuring earnings from major retailers including Walmart, Target, Home Depot, and Lowe’s, as well as Federal Reserve Chair Jerome Powell’s closely watched speech at the Jackson Hole symposium.

U.S. stock futures were little changed on Tuesday after a choppy trading in the previous day: Dow -0.15%; S&P 500 -0.21%; Nasdaq -0.27%.

CURRENCIES: (JPY:USD [https://seekingalpha.com/symbol/JPY:USD]), (CNY:USD [https://seekingalpha.com/symbol/CNY:USD]), (AUD:USD [https://seekingalpha.com/symbol/AUD:USD]), (INR:USD [https://seekingalpha.com/symbol/INR:USD]), (HKD:USD [https://seekingalpha.com/symbol/HKD:USD]), (NZD:USD [https://seekingalpha.com/symbol/NZD:USD]).

MORE ON ASIA:

Japan's economy accelerates by 0.3% in Q2, beating forecasts [https://seekingalpha.com/news/4485858-japans-economy-accelerates-by-03-in-q2-beating-forecasts#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]

China's economy slows as industrial production, retail sales both miss targets; Jobless rate climbs to 5.2% in July [https://seekingalpha.com/news/4485862-chinas-economy-slows-as-industrial-production-retail-sales-both-miss-targets-jobless-rate-climbs-to-52-in-july#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]

Australia's unemployment rate drops to 4.2% in July [https://seekingalpha.com/news/4485123-australia-unemployment-rate-drops-to-42-in-july#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]

Australia's central bank cuts interest rates to 3.6%, lowest level since April 2023 amid moderating inflation and cautious outlook [https://seekingalpha.com/news/4483645-australias-central-bank-cuts-interest-rates-to-36-lowest-level-since-april-2023-amid-moderating-inflation-and-cautious-outlook#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]

China's consumer prices remain flat, beats forecasts; producer prices contract for 34th month [https://seekingalpha.com/news/4482989-chinas-consumer-prices-remain-flat-beats-forecasts-producer-prices-contract-for-34th-month#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]