Markets Rally As Fed Meeting Looms and U.S.-Russia Aligns on Ukraine

Asian markets surged amidst speculation around U.S. Federal Reserve monetary policy decisions. President Trump aligns with Russia on Ukraine peace talks. Key economic event: Jackson Hole symposium, where Chair Powell is set to discuss the Fed's policy. The prospect of lower borrowing costs supports stock markets, with solid corporate earnings underpinning optimism.

Share markets in Asia rallied on Monday as anticipation grew over significant developments in U.S. interest rate policy, while oil prices remained muted amid reduced geopolitical risk. Record highs were seen in Japan and Taiwan indices, and Chinese blue chips surged to their highest in 10 months.

In a geopolitical shift, U.S. President Donald Trump indicated a harmonious stance with Moscow on seeking a peace deal involving Ukraine, following a meeting with Russian President Vladimir Putin. Trump is set to meet with Ukrainian and European leaders to deliberate further actions.

All eyes are on the upcoming Kansas City Federal Reserve's Jackson Hole symposium. Chair Jerome Powell is expected to shed light on economic perspectives and the Fed's monetary policy, with market speculation about potential rate adjustments. The global outlook for lower borrowing costs has buoyed stock markets, alongside robust corporate earnings.

(With inputs from agencies.)