The upcoming meeting between Russian and American leaders is expected to benefit traders who are rushing to buy assets in anticipation of a ceasefire negotiation.

After the Kremlin announced that Putin and Trump will hold a meeting in the coming days, traders flocked to assets that could potentially benefit from the Russia-Ukraine ceasefire agreement. Ukrainian dollar bonds performed the best in Bloomberg's tracking of emerging and frontier market indexes. Eastern European currencies rebounded, with the Polish zloty rising 0.6% against the US dollar at one point. In the stock market, an index measuring Ukrainian stocks listed in Warsaw saw its biggest increase since April. Shares of Rusal, listed in Hong Kong, surged with trading volume above average. Shares of Austrian bank Oesterreichische Kontrollbank with a subsidiary in Moscow rose over 10%.