BANGKOK – 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 trade talks in Stockholm between U.S. and Chinese officials.

European futures rose after the European Union forged a deal with the Trump administration calling for 15% tariffs on most exports to the U.S.

Following a brief meeting between President Donald Trump and European Commission chief Ursula von der Leyen at Trump’s Turnberry golf course in Scotland, a new agreement has been announced. This agreement prevents much higher import tariffs on both sides, which could have created economic disturbances worldwide.

The Nikkei 225 index in Tokyo dropped 1% to reach 41,056.81 as uncertainties emerged regarding the specifics of the trade agreement between Japan and U.S. President Donald Trump, particularly concerning Japan’s pledge to invest $550 billion in the United States.

An official, who wished to remain anonymous when discussing the details of the negotiations, stated that the terms of the deal are still being discussed and nothing has yet been officially documented. The official indicated that the objective is to establish a $550 billion fund for investments guided by Trump’s decisions.

Hong Kong’s Hang Seng index gained 0.4% to 25,490.45 while the Shanghai Composite index lost 0.2% to 3,587.25. Taiwan’s Taiex rose 0.3%.

CK Hutchison, a Hong Kong conglomerate that’s selling ports at the Panama Canal, said 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 0.6% on Monday in Hong Kong.

Elsewhere in Asia, South Korea’s Kospi was little changed at 3,195.49, while Australia’s S&P/ASX 200 rose 0.3% to 8,688.40. India’s Sensex slipped 0.1%.

Markets in Thailand were closed for a holiday.

On Friday, the S&P 500 rose 0.4% to 6,388.64, setting an all-time for the fifth time in a week. The Dow Jones Industrial Average climbed 0.5% to 44,901.92, while the Nasdaq composite added 0.2%, closing at 21,108.32 to top its own record.

Deckers, the company behind Ugg boots and Hoka shoes, jumped 11.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%.

But Intell fell 8.5% after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said 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. technology 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 growth in profits to justify big gains for their stock prices, which have rallied to record after record in recent weeks.

Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1.

Apart from trade 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. government money on its debt repayments.

Fed Chair Jerome Powell has said he is waiting for more data about how Trump’s tariffs affect the economy 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 24 cents to $65.40 per barrel. Brent crude, the international standard, also added 24 cents to $67.90 per barrel.

The dollar rose to 147.72 Japanese yen from 147.71 yen. The euro slipped to $1.1755 from $1.1758.