China benchmark jumps 0.85%

Asian stocks rose broadly on Monday as investors reacted to ongoing U.S.-Russia talks on Ukraine and looked ahead to upcoming Federal Reserve Jerome Powell's Jackson Hole speech for clues on whether the U.S. central bank will cut interest rates next month.

The summit between U.S. President Donald Trump and Russian President Putin in Alaska yielded no concrete agreements, but Russia agreed to "game-changing" security guarantees for Ukraine, helping inject new momentum into stalled efforts to end the Russia-Ukraine war.

The leaders of the U.K., France and Germany will accompany Ukraine's president for crunch talks with Trump at the White House today in a bid to come to a negotiated settlement in the three-and-a-half-year-old conflict.

 

China's Shanghai Composite index jumped 0.85 percent to 3,728.03, rallying to a 10-year high on strong institutional and retail buying amid hopes that a swift resolution to the Russia-Ukraine conflict will help remove U.S. scrutiny of Beijing's purchases of Russian oil.

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