- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
- 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
CMSD | -1.21% | 24.78 | $ | |
CMSC | -0.21% | 24.72 | $ | |
NGG | -0.09% | 69.67 | $ | |
RBGPF | 7.18% | 64.75 | $ | |
SCS | 2.52% | 13.49 | $ | |
RIO | -0.08% | 71.17 | $ | |
BP | -0.1% | 31.39 | $ | |
BTI | -0.71% | 36.58 | $ | |
AZN | 0.37% | 77.91 | $ | |
GSK | 0.42% | 40.88 | $ | |
RYCEF | 0.14% | 7.05 | $ | |
BCC | -0.36% | 140.98 | $ | |
JRI | 0.66% | 13.67 | $ | |
VOD | -0.7% | 10.02 | $ | |
RELX | -0.21% | 47.46 | $ | |
BCE | -1.12% | 34.8 | $ |
Asian markets slide, China growth behind target
Asian stocks opened lower on Monday in cautious trade, as China posted higher-than-expected economic growth but officials still warned of "significant challenges ahead".
Tokyo's benchmark Nikkei 225 index was down 1.25 percent in early trade, while Hong Kong and Sydney were closed for holidays.
Stocks in Shanghai, which reported the first Covid-19 deaths since the start of its weeks-long lockdown, were slightly down.
China's largest city and economic powerhouse has stewed under a patchwork of lockdown restrictions this year amid the country's worst Covid-19 outbreak since the start of the pandemic.
The country reported first-quarter economic growth of 4.8 percent, the National Bureau of Statistics said, as the pandemic threatens Beijing's ambitious annual growth target.
That figure was up from 4.0 percent in the final months of 2021.
The world's second-biggest economy was already losing steam in the latter half of last year with a property slump and regulatory crackdowns.
All of this adds to pressure on officials to meet the country's full-year growth target of around 5.5 percent, in a key year for President Xi Jinping who is eyeing another term in power.
"We must be aware that with the domestic and international environment becoming increasingly complicated and uncertain, economic development is facing significant difficulties and challenges," said NBS spokesman Fu Linghui.
Oil prices, which have been elevated since Russia's February invasion of Ukraine, were up again, with Brent Crude topping $112 a barrel.
Stephen Innes of SPI Asset Management said the rise was "likely to fuel inflation fears, and rate hike jitters around the meaningful Fed action required to snuff those fears out".
Russia is a major global oil and gas supplier, and -- along with Ukraine -- is also a key player in the grain sector.
The conflict has shaken markets for these commodities, and the impact has been felt from the Middle East to South America.
The war has sent oil prices soaring, with reports swirling about further energy sanctions on Russia.
Central banks in several major economies including the United States, Canada and Britain have already started raising interest rates to contain prices, but the European Central Bank on Thursday kept its stimulus plans and rates unchanged.
- Key figures around 0250 GMT -
Tokyo - Nikkei 225: DOWN 1.83 percent at 26,596.66
Shanghai - Composite: DOWN 0.42 percent at 3,197.72
Hong Kong - Hang Seng Index: Closed for a holiday
Euro/dollar: DOWN at $1.0798 from $1.0801
Pound/dollar: DOWN at 1.3037 from $1.3063
Euro/pound: UP at 82.83 pence from 82.67 pence
Dollar/yen: UP at 126.53 yen from 126.39 yen
Brent North Sea crude: UP 0.66 percent at $112.44 per barrel
West Texas Intermediate: UP 0.52 percent at $107.51 per barrel
New York - Dow: DOWN 0.3 percent at 34,451.23 (close)
London - FTSE 100: UP 0.5 percent at 7,616.38 (close)
Y.Ponomarenko--CPN