Asian markets muted as investors weigh which way market is headed

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Asian markets muted as investors weigh which way market is headed
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Asian stock markets were mixed Monday after Wall Street turned in its biggest weekly gain in 16 months as investors watched efforts to negotiate an end to...

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BEIJING — Asian stock markets were mixed Monday after Wall Street turned in its biggest weekly gain in 16 months as investors watched efforts to negotiate an end to Russia’s war on Ukraine.

Wall Street’s S&P 500 index rose 1.2% on Friday after markets appeared to welcome the Federal Reserve’s attempt to fight surging inflation by raising its key interest rate. The S&P SPX rose to 4,463.12, adding to a streak that included two days of 2% gains. The Dow DJIA advanced 0.8% to 34,754.93 and the Nasdaq composite COMP added 2% to 13,893.84. The three indexes had their best week since November 2020.

On Sunday, Turkey’s foreign minister, Mevlut Cavusoglu, said Ukraine and Russia are close to an agreement on “fundamental issues” after he traveled to both countries to meet his counterparts.

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