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- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
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- Will Tesla's robotaxi reveal live up to hype?
- 'Invisibility' and quantum computing tipped for physics Nobel
- Oil prices extend gains on Mideast tensions, Wall Street falls
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
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- Europe's asteroid mission Hera launches despite hurricane
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- What is microRNA? Nobel-winning discovery explained
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- China to flesh out economic stimulus plans after bumper rally
- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
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- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
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- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
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- What next for OpenAI after $157 billion bonanza?
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Equities mostly up as traders weigh China moves, await Fed's Powell
Markets mostly rose Wednesday on hopes that China will further ease its strict Covid containment measures following widespread political unrest, though gains were tempered by leaders' warnings of a crackdown on dissent across the country.
Traders were also nervously awaiting a key policy speech by Federal Reserve chief Jerome Powell later in the day that could outline the bank's strategy for tackling inflation in light of a recent slowdown in price gains.
A spectacular rally in Hong Kong on Tuesday led gains across Asia as investors looked past weekend demonstrations in China after officials announced moves aimed at softening their zero-Covid strategy.
Leaders said they would step up their drive to vaccinate the elderly, while the National Health Commission appeared to blame local governments for instituting extreme measures such as tight lockdowns, one of the main reasons for the unrest.
However, in a sign that the leadership was determined to maintain its authority, the country's top security body called for a "crackdown" against "hostile forces".
The warning came after security services were sent out in force to prevent further demonstrations, the likes of which had not been seen in decades.
The developments saw Hong Kong stocks swing between gains and losses in the morning, having soared more than five percent Tuesday, while Shanghai fluctuated.
Data showing China's factory activity shrank further in November highlighted Covid-zero's impact on the country's economy.
"Due to a more reflective approach to the recent zero-Covid measures, Chinese stocks have taken substantial leaps and bounds this week," said SPI Asset Management's Stephen Innes.
"Still, the global investment community is keeping close tabs on China... Any antagonistic escalation risks a walk back of current positive momentum, especially with folks playing the trade-off thinking that a calming in protests might hasten a shift away from zero-Covid policies."
There were also gains in most other Asian markets, with Sydney, Seoul, Wellington, Taipei and Jakarta in the green, though Tokyo dipped.
Focus is also on Fed boss Powell's speech later Wednesday on the labour market, with many expecting him to outline the bank's plans for future interest rate hikes.
After lifting borrowing costs 75 basis points for the past four meetings, officials are widely seen as taking their foot off the gas when they gather next month following a recent batch of weak data including a below-forecast inflation print for October
But a string of policymakers has lined up in recent weeks to ram home theirintention to keep lifting until they are satisfied inflation has been slayed, with warnings there will not likely be any cuts until 2024.
The sharp lift in rates this year has fanned bets that the world's top economy will tip into recession.
"The Fed has hiked enough -- and quickly enough -- to make recession a base-case scenario in our book," Lauren Goodwin, at New York Life Investments, said.
"Volatility and risk premia are likely to remain elevated as long as the Fed is fighting inflation in a growth slowdown."
The remarks by Powell come just before the Friday release of US jobs data for November, which will provide the latest snapshot of the economy.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: DOWN 0.6 percent at 27,858.16 (break)
Hong Kong - Hang Seng Index: UP 0.3 percent at 18,251.79
Shanghai - Composite: UP 0.1 percent at 3,153.65
Euro/dollar: UP at $1.0346 from $1.0332 on Tuesday
Dollar/yen: UP at 138.69 yen from 138.67 yen
Pound/dollar: UP at $1.1977 from $1.1952
Euro/pound: DOWN at 86.38 pence from 86.42 pence
West Texas Intermediate: UP 0.8 percent at $78.81 per barrel
Brent North Sea crude: UP 1.0 percent at $83.88 per barrel
New York - Dow: FLAT at 33,852.53 (close)
London - FTSE 100: UP 0.5 percent at 7,512.00 (close)
U.Ndiaye--CPN