- China offers $325 bn in fiscal stimulus for ailing economy
- 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
Markets build on gains as bank, rate concerns ease
Most Asian markets built on a global rally Friday as worries about the banking sector fade and traders grow optimistic central banks are near the end of their interest rate hiking cycle.
With the financial turmoil of recent weeks subsiding, traders are refocusing on the battle against inflation, though expectations for how high borrowing costs will go have lowered.
The Federal Reserve had been tipped to push rates well above five percent by the end of the year, but with credit seen narrowing in light of the latest upheaval, forecasts are for them to finish just above four percent.
That has helped push up equities, which had been under pressure through February and March.
And even comments from top Fed officials warning that the bank would need to keep its focus on fighting inflation -- despite concerns about the finance sector -- hurt sentiment on trading floors.
Boston Fed boss Susan Collins said the banking system was on safe ground, telling a business conference: "Inflation remains too high, and recent indicators reinforce my view that there is more work to do to bring inflation down to the two percent target associated with price stability."
Meanwhile, Richmond president Thomas Barkin warned stepping back from the battle against soaring prices would be foolhardy.
"If you back off on inflation too soon, inflation comes back stronger, requiring the Fed to do even more, with even more damage," he said.
"With inflation high, broad-based and persistent, I didn't want to take that risk."
Still, all three main indexes on Wall Street pushed well up Thursday, as did European equities following the release of data indicating inflation on the continent was slowing.
In a sign of the improved mood on trading floors, the so-called VIX "fear" index dropped below 20 to its lowest point since the start of March.
In Asia, Hong Kong led the way, rising 1.7 percent thanks to a rally in tech firms after it emerged that the e-commerce giant Alibaba's logistics arm was preparing for a listing in the city.
News of the IPO by Cainiao Network Technology comes after Alibaba said it intended to split into six units and go public.
Alibaba was up more than four percent.
And rival JD.com jumped more than seven percent on news that two of its subsidiaries had filed for IPOs in Hong Kong.
Shanghai, Tokyo, Sydney, Seoul, Singapore and Taipei were also in positive territory, though there was selling in Manila, Jakarta and Wellington.
Investors are now awaiting the release of US and eurozone inflation data later in the day, which should provide a better insight into how much impact rate hikes are having in taming prices.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: UP 1.0 percent at 28,046.75 (break)
Hong Kong - Hang Seng Index: UP 1.7 percent at 20,657.94
Shanghai - Composite: UP 0.4 percent at 3,275.21
Euro/dollar: DOWN at $1.0908 from $1.0910 on Thursday
Pound/dollar: UP at $1.2400 from $1.2385
Euro/pound: DOWN at 87.95 pence from 88.03 pence
Dollar/yen: UP at 133.11 yen from 132.67 yen
West Texas Intermediate: UP 0.2 percent at $74.48 per barrel
Brent North Sea crude: UP 0.1 percent at $78.64 per barrel
New York - Dow: UP 0.4 percent at 32,859.03 (close)
London - FTSE 100: UP 0.7 percent at 7,620.43 (close)
U.Ndiaye--CPN