- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
- Cuts, cash, credit: China bids to jumpstart flagging economy
- France's debt weighs heavier ahead of budget debate
- Iran treads carefully, backing Hezbollah while avoiding war
- Return to sender: waste stranded at sea stirs toxic dispute
- 'Broken' news industry faces uncertain future
- On remote Greek island, migratory birds offer climate clues
- Taken from mother by nuns, victim seeks answers as pope visits Belgium
- China cuts amount banks hold in reserve to boost lending
- Hong Kong, Shanghai extend surge as China optimism boosts markets
- Vietnam president reiterates support for Cuba during official visit
- Drought reduces Amazon River in Colombia by as much as 90%: report
- Stay or go? Pacific Islanders face climate's grim choice
- Florida bracing for 'unsurvivable' Hurricane Helene
- Poverty rises to over 52 percent in Milei's Argentina
- Chloe's see-through look may not be for Kamala Harris
- Champagne houses abuzz over English sparkling wine
- Macron, Trudeau pledge to work for 'decarbonized' economies
- Hurricanes, storms, typhoons... Is September wetter than usual?
- China stimulus, tech optimism boost stock markets
- 'Unsurvivable' Hurricane Helene races towards Florida
- Macron meets Trudeau in Canada as both face political setbacks
- South Korea surges in UN innovation index
- Chloe's see-through look may not be for Kamala
- Floods threaten Niger's historic 'gateway to the desert'
Asian traders take breather, Hong Kong slips after huge surge
Asian equities were mixed Friday as investors took a breather from a strong rally, with Hong Kong giving up some of the colossal gains fuelled by China's support pledge, while unease over the Ukraine war helped oil extend a recovery.
After a painful start to the week, global stocks have enjoyed a massive bounce in the past few days thanks to optimism over peace talks between Moscow and Kyiv and after Beijing's signal that it was ready to shore up markets and ease off its tech crackdown.
And while the Federal Reserve announced the first of what many think will be seven interest rate hikes this year, traders have largely accounted for a period of tighter monetary policy.
Focus remains on Russia's invasion of Ukraine and its impact on the global economy as surging commodity prices ramp up expectations for ever-higher inflation, which was already at a 40-year high in the United States.
Talks between Joe Biden and his Chinese counterpart Xi Jinping will be closely followed, with the White House looking to get Beijing onside in trying to bring an end to the conflict.
That comes as Russia appeared to play down reports of progress in talks with Ukraine on a ceasefire, while the Pentagon warned that Vladimir Putin could threaten to use nuclear weapons if the conflict continues to drag on.
On equity markets, Asia was unable to build on the previous two day's surge.
Hong Kong dropped more than one percent, having clocked up a mammoth 16 percent on Wednesday and Thursday after China's top economic official vowed measures to support beaten-down markets and indicated a regulatory drive against the tech sector was nearing its end.
A gauge of tech firms in Hong Kong also fell after seeing breakneck gains.
There were also losses in Seoul, Singapore, Taipei, Manila and Jakarta, though Tokyo, Shanghai, Sydney and Wellington were in positive territory.
But while the extreme volatility that has characterised markets since Russia's invasion three weeks ago has died down for now, commentators remain cautious.
"I don't necessarily expect the rest of the year to be that easy," Lori Calvasina, of RBC Capital Markets LLC, told Bloomberg Television.
"Volatility is likely to stay elevated for quite some time" even as sentiment gauges "have been a screaming buy in some respects for quite some time".
The uncertainty over Ukraine, and reports that some lockdown measures in Chinese tech hub Shenzhen -- which helped fuel a markets selloff earlier this week -- were being eased early, has helped push oil prices back up above $100.
And Stephen Innes of SPI Asset Management said the commodity would probably remain elevated.
"Market internals suggest that oil's downside remains sticky even when Ukraine and Russia are inching towards peace," he said in a note. "So there is a genuine belief that even if the war does end, sanctions on Russia will likely persist, making oil supplies tougher to source for longer.
- Key figures around 0300 GMT -
Brent North Sea crude: UP 2.2 percent at $109.03 per barrel
West Texas Intermediate: UP 2.4 percent at $105.45 per barrel
Hong Kong - Hang Seng Index: DOWN 1.7 percent at 21,147.53
Tokyo - Nikkei 225: UP 0.3 percent at 26,724.06 (break)
Shanghai - Composite: UP 0.1 percent at 3,217.44
Dollar/yen: UP at 118.79 yen from 118.64 yen late Thursday
Euro/dollar: DOWN at $1.1085 from $1.1095
Pound/dollar: UP at $1.3157 from $1.3149
Euro/pound: DOWN at 84.25 pence from 84.35 pence
New York - DOW: UP 1.2 percent at 34,480.76 (close)
London - FTSE 100: UP 1.3 percent at 7,385.34 (close)
D.Philippon--CPN