- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- 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
Asian markets mixed but China, Fed keep confidence in check
Asian markets were mixed Tuesday as investors scrabbled to recover from the previous day's rout but fears over the impact of China's Covid-induced lockdowns and the Federal Reserve's plan to hike interest rates quickly continue to drag on sentiment.
The Omicron flare-up across China has led authorities to impose strict containment measures in its biggest cities, shutting off millions of people and threatening to deal a hammer blow to the world's number two economy.
While Shanghai -- the largest city -- has been in lockdown for weeks, Beijing has launched mass testing for nearly all its 21 million residents with many in the capital now fearing the same fate as the financial hub.
The measures have dealt a severe blow to the economy, leading to concerns about the likely knock-on effects for the rest of the world owing to its reliance on goods from China.
The China crisis comes as traders grapple with a hawkish Fed, which is struggling to control inflation, which is sitting at a more than 40-year high.
"For the time being, the spectre of more severe restrictions in China is not being traded from the inflationary side, but rather as a detriment to the global recovery and as a demand-negative shock," said BMO Capital Markets strategists Benjamin Jeffery and Ian Lyngen.
They added that they were "less convinced that the situation will be enough to materially shift" the Fed's plans to aggressively hike interest rates to tame runaway inflation.
US central bank policymakers have said they are keen to lift rates several times this year to get a grip on prices, with boss Jerome Powell indicating a half-point rise next month followed by more before January.
The Fed and China issues are being compounded by the war in Ukraine and all the uncertainty that has brought, while investors are nervously awaiting results and forecasts from the world's biggest companies, hoping for an idea about the impact on their bottom lines.
While Asia suffered a torrid day Monday, Wall Street managed to end on a positive note, helped by news of Elon Musk's $44 billion purchase of Twitter.
But buying remained weak in Asia again Tuesday.
Hong Kong and Shanghai edged up but made only small dents in the massive losses suffered the day before.
Tokyo, Seoul and Jakarta also ticked higher, though Sydney, Singapore, Wellington, Taipei and Manila fell.
Crude prices were slightly higher but were unable to recover fully from the hefty drop seen Monday caused by concerns about demand from China.
"Given Omicron's less-lethal footprint, traders had expected some easing of lockdowns before the Golden Week" holiday next week, said Stephen Innes at SPI Asset Management.
"And with this unlikely to happen, traders were then forced to revalue oil prices lower on a more protracted consumption slump than expected."
- Key figures at 0230 GMT -
Tokyo - Nikkei 225: UP 0.5 percent at 26,726.65 (break)
Hong Kong - Hang Seng Index: UP 0.9 percent at 20,055.84
Shanghai - Composite: UP 0.2 percent at 2,932.90
Brent North Sea crude: UP 0.5 percent at $102.81 per barrel
West Texas Intermediate: UP 0.3 percent at $98.88 per barrel
Euro/dollar: UP at $1.0731 from $1.0716 late on Monday
Pound/dollar: UP at $1.2758 from $1.2744
Euro/pound: UP at 84.11 pence from 84.05 pence
Dollar/yen: DOWN at 127.44 yen from 128.15 yen
New York - Dow: UP 0.7 percent at 34,049.46 (close)
London - FTSE 100: DOWN 1.9 percent at 7,380.54 (close)
M.Anderson--CPN