- 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 | $ |
Asia markets react to China growth news
Asian stocks were digesting news about growth concerns in China and rising interest rates in the United States on Tuesday with Japan edging marginally higher, but Hong Kong falling sharply in early trade.
Chinese growth numbers for the first quarter of 2022 exceeded expectations on Monday but the government warned of "significant challenges" ahead.
Shanghai, the country's economic centre, is in the throes of an intense Covid-19 lockdown with restrictions -- which have also hit tech hub Shenzhen and the northeastern grain basket of Jilin -- shutting supply lines.
Investors were left weighing whether attempts to lift the economy by Chinese policymakers -- who have held off cutting interest rates -- would offset Beijing's zero-Covid policies.
"The unwillingness to loosen monetary policy further before Covid is under control means that market sentiment will probably remain bleak in coming weeks," the Gavekal Dragonomics team told Bloomberg.
"However, equities will rally even harder if lockdowns lift and policymakers start to make up for lost growth with additional easing measures."
Japan's Nikkei 225 made healthy gains in early trade with South Korea, mainland China, Taiwan, and Australia all edging upward.
But Hong Kong plummeted more than 2.5 percent in the first hour of trading after a four-day holiday hiatus.
The impact of monetary policy tightening in the United States to combat inflation was another variable watched closely by investors.
Meanwhile, oil prices continued to climb as Libya's National Oil Corporation announced the closure of operations in major sites after staff in the key export terminal of Zueitina and the Al-Sharara oil field were blocked from working.
Stephen Innes at SPI Asset Management said the rise in prices shows "just how bullishly reactive oil markets have become to supply shocks."
And the Japanese yen continued its drop against the dollar after crossing a new 20-year low Monday, reflecting the continued accommodation of Japanese monetary policy, while US policymakers move to hike interest rates.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: UP 0.20 percent at 26,854.87
Shanghai - Composite: UP 0.10 percent at 3,198.84
Hong Kong - Hang Seng Index: DOWN 2.72 percent at 20,933.13
Euro/dollar: DOWN at $1.0767 from $1.0802
Pound/dollar: DOWN at $1.2993 from $1.3023
Euro/pound: FLAT at 82.87 pence
Dollar/yen: UP at 127.77 yen from 126.54 yen
Brent North Sea crude: UP 0.36 percent at $113.55 per barrel
West Texas Intermediate: UP 0.14 percent at $108.36 per barrel
New York - Dow: DOWN 0.1 percent at 34,411.69 (close)
London - FTSE 100: Closed for a holiday
Y.Jeong--CPN