- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
- China stocks soar on stimulus, but US and Europe retreat
- 100 dead in storm Helene damage, flooding across US southeast
- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
- New blow for UK's Starmer as growth data disappoints
- China's top banks to tweak mortgage rates to boost housing market
- 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
RBGPF | 7.18% | 64.75 | $ | |
RYCEF | 0.14% | 7.05 | $ | |
CMSC | -0.21% | 24.72 | $ | |
BCC | -0.36% | 140.98 | $ | |
SCS | 2.52% | 13.49 | $ | |
GSK | 0.42% | 40.88 | $ | |
NGG | -0.09% | 69.67 | $ | |
CMSD | -1.21% | 24.78 | $ | |
RIO | -0.08% | 71.17 | $ | |
RELX | -0.21% | 47.46 | $ | |
BCE | -1.12% | 34.8 | $ | |
JRI | 0.66% | 13.67 | $ | |
VOD | -0.7% | 10.02 | $ | |
BTI | -0.71% | 36.58 | $ | |
AZN | 0.37% | 77.91 | $ | |
BP | -0.1% | 31.39 | $ |
Asian markets rise but inflation, Ukraine fears linger
Asian stock markets mostly rose in early trade Thursday after a recovery on Wall Street, but investors remained cautious about the ongoing impact of skyrocketing inflation and the war in Ukraine.
Prices were already soaring in major economies when Russia's invasion of Ukraine sent shockwaves through the global energy, food and commodity markets.
Despite lingering concerns about the US Federal Reserve's next moves to contain prices, Wall Street enjoyed a buoyant session -- especially the tech-rich Nasdaq, which surged 2.0 percent.
Asia was in a similar mood Thursday as Tokyo soared 1.3 percent and Hong Kong put on 0.8 percent. Sydney, Shanghai and Taipei were also in positive territory, but Seoul dipped.
South Korea's central bank on Thursday raised its key interest rate to the highest level since August 2019 to tame rising inflation.
Analysts warned overnight that the uncertainty is far from over.
"With a thicker fog of war starting to roll in and engulf the global markets again, it is another worrying setup amid the widespread bearish sentiment out there," Stephen Innes of SPI Asset Management said in a note.
Data this week from the United States -- the world's biggest economy -- and Britain showed inflation at levels not seen in decades.
Analysts said, however, that markets had welcomed an indication that US inflation may be approaching its peak.
- 'Countervailing forces' -
The grim outlook was reflected in the latest earnings report from JP Morgan Chase, the largest American bank by assets.
"There's this very strong underlying economy," its chief executive Jamie Dimon said.
But he pointed to "countervailing forces", including rising interest rates, inflation and the war in Ukraine.
"And those things are going to collide at one point, probably sometime next year," he said in a conference call with reporters.
"I'm not predicting a recession... But is it possible? Absolutely."
Both main oil contracts hovered above the $100 per barrel mark, with fears swirling about global supply constraints over the invasion of Ukraine by Russia -- a major producer of oil and gas.
"The oil complex is heavily fixated on the short-term," Vandana Hari of Singapore-based Vanda Insights told Bloomberg News.
"The prospect of an EU ban on Russian oil will keep the market on edge as long as Ukraine festers."
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: UP 1.3 percent at 27,182.50
Hong Kong - Hang Seng: UP 0.8 percent at 21,535.37
Shanghai - Composite: UP 0.6 percent at 3,203.94
Euro/dollar: DOWN at 1.0888 from $1.0894 at 2100 GMT
Pound/dollar: UP at $1.3117 from $1.3109
Euro/pound: DOWN at 83.01 pence from 83.03 pence
Dollar/yen: UP at 125.62 from 125.59
Oil - Brent: DOWN 0.7 percent at 108.05 per barrel
Oil - WTI: DOWN 0.8 percent at 103.41 per barrel
New York - Dow: UP 1.0 percent at 34,564.59 (close)
London - FTSE 100: UP 0.1 percent at 7,580.80 (close)
-- Bloomberg News contributed to this story --
M.Mendoza--CPN