- Small Quebec company dominates one part of NHL hockey: jerseys
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Want to film in Paris? No sexism allowed
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- 7-Eleven owner restructures to fight takeover
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
- Mumbai mourns Indian industrialist Ratan Tata
Asian markets rebound as bank fears ease, Fed decision in view
Asian markets bounced Tuesday from the previous day's rout, with lenders boosted by easing concerns of another financial crisis, while focus turned to the Federal Reserve's policy decision later in the week.
The panic that characterised trade over the past 11 days appeared to have faded after authorities in leading economies pledged support for depositors and troubled banks following the collapse of Silicon Valley Bank and Signature Bank in the United States.
Still, the takeover of troubled Credit Suisse by UBS for $3.25 billion fanned concerns about what could be next on the chopping block, and analysts warned it was too early to say that the crisis was over.
The move to save Credit Suisse aimed to prevent a wider crisis as it is among the 30 global banks considered "too big to fail".
All three main indexes on Wall Street ended on the front foot -- with the Dow more than one percent up -- while European markets were also comfortably higher, helped by promises of support from the Fed and other central banks as well as the saving of Credit Suisse.
However, embattled First Republic Bank collapsed almost 50 percent, despite a coalition of US lenders saying they would inject $30 billion into it.
There was also less concern over high-risk debt markets as holders of such bonds at Credit Suisse, known as AT1s, will lose $17.3 billion after authorities required that they be written off.
The upheaval in the banking sector has led traders to re-evaluate their bets on the Fed's interest rate plans, with speculation swirling that it will even cut rates by the end of the year to provide some stability, despite still-elevated inflation.
Before the crisis kicked off, expectations were for borrowing costs to go as high as six percent but now forecasts are for them to end at around four percent.
They are currently at 4.5-4.75 percent, and there is much talk about whether the US central bank holds fire at its Wednesday decision or lifts rates by 25 basis points.
- Dollar tumbles -
"Given the uncertainty in US regional Main Street banks, who do the bulk of the heavy lifting in consumer, small business and agricultural loans across America's heartland, there is a good chance the Fed prioritises stability over inflation this meeting," said SPI Asset Management's Stephen Innes.
"And with oil tanking in the first quarter, the inflation problem could look relatively less urgent for this meeting.
"The good news is that the headline has fallen for eight consecutive months; the bad news is that 5.5 percent on the core is still far from the target. To be clear: US inflation is still a serious issue, and it's not coming down as fast as most expected."
And Ed Yardeni, of Yardeni Research, said: "Further rate hikes are no longer warranted, in our opinion."
In early Asian trade, Hong Kong rose with lenders HSBC and Standard Chartered well up, while Shanghai, Singapore, Seoul, Taipei, Manila and Jakarta were also in positive territory.
Sydney was more than one percent up with big advances for National Australia Bank and Westpac.
Lower expectations for US interest rates were also weighing on the dollar, which has tumbled against its peers, while oil prices fell again as investors fret over the impact on demand from a possible recession.
- Key figures around 0230 GMT -
Hong Kong - Hang Seng Index: UP 0.7 percent at 19,128.12
Shanghai - Composite: UP 0.3 percent at 3,245.19
Tokyo - Nikkei 225: Closed for a holiday
Euro/dollar: DOWN at $1.0720 from $1.0726 on Monday
Pound/dollar: DOWN at $1.2265 from $1.2280
Euro/pound: UP at 87.40 pence from 87.32 pence
Dollar/yen: DOWN at 131.27 yen from 131.32 yen
West Texas Intermediate: DOWN 0.5 percent at $67.29 per barrel
Brent North Sea crude: DOWN 0.7 percent at $73.29 per barrel
New York - Dow: UP 1.2 percent at 32,244.58 (close)
London - FTSE 100: UP 0.9 percent at 7,403.85 (close)
H.Meyer--CPN