Asian shares are mixed after Wall Street sets more records for US stocks

BANGKOK AP Stock markets in Asia were mixed on Monday after U S stocks rose to more records as they closed out another winning week U S futures and oil prices were higher ahead of contract talks in Stockholm between U S and Chinese functionaries European futures rose after the European Union forged a deal with the Trump administration calling for tariffs on bulk exports to the U S The agreement communicated after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump s Turnberry golf module in Scotland staves off far higher import duties on both sides that might have sent shock waves through economies around the globe Tokyo s Nikkei index lost to after doubts surfaced over what exactly the business truce between Japan and U S President Donald Trump especially the billion pledge of funding in the U S by Japan will entail Terms of the deal are still being negotiated and nothing has been formalized in writing reported an official who insisted on anonymity to detail the terms of the talks The official suggested the goal was for a billion fund to make investments at Trump s direction Hong Kong s Hang Seng index gained to while the Shanghai Composite index lost to Taiwan s Taiex rose CK Hutchison a Hong Kong conglomerate that s selling ports at the Panama Canal mentioned it may seek a Chinese investor to join a consortium of buyers in a move that might please Beijing but could also bring more U S scrutiny to a geopolitically fraught deal CK Hutchison s shares fell on Monday in Hong Kong Elsewhere in Asia South Korea s Kospi was little changed at while Australia s S P ASX rose to India s Sensex slipped Markets in Thailand were closed for a holiday On Friday the S P rose to setting an all-time for the fifth time in a week The Dow Jones Industrial Average climbed to while the Nasdaq composite added closing at to top its own record Deckers the company behind Ugg boots and Hoka shoes jumped after reporting stronger profit and revenue for the spring than analysts expected Its increase was particularly strong outside the United States where revenue soared nearly But Intell fell after reporting a loss for the latest quarter when analysts were looking for a profit The struggling chipmaker also revealed it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes Intel which helped launch Silicon Valley as the U S system hub has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars Companies are under pressure to deliver solid rise in profits to justify big gains for their stock prices which have rallied to record after record in latest weeks Wall Street has zoomed higher on hopes that President Donald Trump will reach deal deals with other countries that will lower his stiff proposed tariffs along with the pitfall that they could cause a recession and drive up inflation Trump has of late publicized deals with Japan and the Philippines and the next big deadline is looming on Friday Aug Apart from contract talks this week will also feature a meeting by the Federal Reserve on interest rates Trump again on Thursday lobbied the Fed to cut rates which he has implied could save the U S ruling body money on its debt repayments Fed Chair Jerome Powell has mentioned he is waiting for more material about how Trump s tariffs affect the financial sector and inflation before making a move The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates In other dealings early Monday U S benchmark crude oil gained cents to per barrel Brent crude the international standard also added cents to per barrel The dollar rose to Japanese yen from yen The euro slipped to from Source