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Peace Talks Falter as New Strikes Shake Ukraine

President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan receives the heads of delegations participating in the UAE hosted trilateral talks between the United States, Russia and Ukraine, Director of the Office of the President of Ukraine Kirill Budanov, United States Special Envoy Steve Witkoff, Secretary of the National Security and Defense Council of Ukraine Rustem Umerov, Chief of the Main Directorate of the General Staff of the Russian Armed Forces Igor Kostyukov, and Jared Kushner at Al Shati Palace in Abu Dhabi. US‑mediated negotiations aimed at easing the war in Ukraine ended abruptly without an agreement after Russia launched a series of overnight airstrikes that hit multiple Ukrainian cities and energy facilities. The renewed bombardment intensified pressure on the talks, which had been viewed as a tentative step toward de‑escalation. Diplomats from both sides described the discussions as “constructive but inconclusive,” noting that major sticking points — in...
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Japan’s Nikkei 225 Index Hits New Record Close of 40,913.65

Japan’s benchmark Nikkei 225 surged Thursday to a record close of 40,913.65, leading markets in most of Asia higher. The index gained 0.8%, buoyed by heavy buying of technology and export-oriented shares. Investors worldwide are keen to see the Federal Reserve cut rates that it has been keeping at two-decade highs to slow growth and tame inflation, and hopes have been reviving that price pressures are easing enough to make that possible.

The Nikkei 225’s all-time high during intraday trading is 41,087.75, set on March 22. Its previous record close was 40,888.43, also set on March 22. Investors have piled into the Japanese market partly due to the cheapness of the Japanese yen, which is trading at 34-year lows against the dollar. A weak yen tends to push the profits of exporters higher when they are repatriated to Japan.

The Nikkei 225 index has gained 22.4% so far this year. It surged in the late 1980s during Japan’s bubble economy, when asset prices soared, but collapsed when that financial bubble imploded in early 1990 after hitting its earlier record of 38,915.87.

Elsewhere in Asia, Hong Kong’s Hang Seng recovered from early losses, rising 0.2% to 18,018.72, and the Shanghai Composite index shed 0.8% to 2,957.57. Taiwan’s Taiex jumped 1.5% as chip maker and market heavyweight Taiwan Semiconductor Manufacturing Corp. gained 2.7%. In Australia, the S&P/ASX 200 surged 1.2% to 7,831.80, while the Kospi in Seoul advanced 1.1% to 2,824.94. Bangkok’s SET jumped 0.9%.

On Wednesday, U.S. stocks kept rising in a holiday-shortened session after weak reports on the economy kept the door open for possible cuts to interest rates. U.S. markets were closed Thursday for the Independence Day holiday. The S&P 500 rose 0.5% to set an all-time high for a second straight day and for the 33rd time this year. The Dow Jones Industrial Average dipped 0.1% to 39,308.00, and the Nasdaq composite gained 0.9% to 18,188.30. Tesla again helped boost the market and rose 6.5% a day after reporting a milder drop in sales for the spring than analysts feared.


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