- Nike earnings drop, says turnaround will take time
- US dockworkers launch mass strike a month before election
- Iron Dome: Israel's key anti-missile shield
- Cranes stand still as US dockworkers fight for 'future'
- GM reports US sales dip, but says EVs grew
- Sheinbaum takes office as Mexico's first woman president
- Webb telescope detects carbon dioxide on Pluto's largest moon
- Stock markets slump, oil jumps on Middle East concerns
- French PM vows more taxes and spending cuts ahead of budget fight
- Germany inaugurates IBM's first European quantum data centre
- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
- Anger meets tear gas as Nigeria hardship protests fizzle out
- US dockworkers launch mass strike month before election
- Evacuations from Lebanon: what we know
- Feathers fly at Chanel's Paris fashion return
- UAE oil giant ADNOC swoops on German chemicals firm Covestro
- Eurozone inflation falls under 2% for first time since 2021
- 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
Asian stocks up as investors calm over potential Fed moves
Asian equities were mostly up Friday following a tumultuous trading period on Wall Street, which rebounded at the close after investors calmed down about US policies to counter surging inflation.
World markets have been volatile for much of 2022 owing to China's Covid-19 lockdowns, Russia's invasion of Ukraine, and as surging inflation weighed on consumer sentiment.
The Federal Reserve last week had announced its largest rate hike since 2000 and signalled that similar increases were likely in the coming months -- a possibility that sent markets on a rollercoaster.
"Macro-economic concerns have continued to weigh heavily on the equity markets this week, as stagflation and recession fears continue to dampen investor enthusiasm," said Lewis Grant of Federated Hermes Limited.
He added that the fears have been echoed in forecasts by major companies, with a large number of firms citing supply chain concerns.
Wall Street was mixed Thursday after another day of volatile trading, with the Dow falling for the sixth straight session but the Nasdaq mustering a small gain.
The small rebound on the tech-rich Nasdaq came after Fed Reserve chief Jerome Powell -- confirmed Thursday by the Senate for a second term -- expressed confidence that the economy is strong enough to withstand tighter monetary policies.
According to Bloomberg, Powell reaffirmed that the Fed was likely to raise rates by a half point but isn't "actively considering" a 75-basis point move.
In Asia, Hong Kong, Tokyo, Seoul, Singapore and Sydney opened higher on Friday, while Wellington traded in the negatives.
Dread has not only sent traditional markets seesawing, but the cryptocurrency realm also saw great volatility this week.
Bitcoin tumbled to the lowest level since late 2020, following a dramatic collapse in some so-called stablecoin cryptocurrencies -- TerraUSD and Tether.
The two stablecoins -- which are supposed to be pegged to the dollar -- proved to be anything but, as they saw their values collapse.
While the digital currency market stabilised by Friday, Stephen Innes of SPI Asset Management said "the 7-day moves in some of the 'other crypto experiments' on monster volume are insane and increasingly difficult to watch".
Bitcoin slumped below $27,000 before recovering a bit, trading recently at $28,710.
Oil remained up on Friday, with US benchmark crude WTI trading at more than $107 a barrel.
"As long as the war continues and macro pressures persist, it is likely that both energy names and value stocks will remain relative safe-havens for fully-invested, long-only equity investors," said Grant of Federated Hermes Limited.
- Key figures at around 0230 GMT -
Hong Kong - Hang Seng Index: UP 1.7 percent at 19,705.86
Shanghai - Composite: UP 0.3 percent at 3,064.32
Tokyo - Nikkei 225: UP 2.7 percent at 25,421.84 (break)
Brent North Sea crude: UP 1.4 percent at $108.90 per barrel
West Texas Intermediate: UP 1.2 percent at $107.36 per barrel
Euro/dollar: UP at $1.0387 from $1.0382 at 2100 GMT Thursday
Pound/dollar: DOWN at $1.2212 from $1.2199
Euro/pound: DOWN at 85.06 pence from 85.08 pence
Dollar/yen: DOWN at 128.36 yen from 129.97 yen
New York - Dow: DOWN 0.3 percent at 31,730.30 (close)
London - FTSE 100: DOWN 1.6 percent at 7,233.34 (close)
D.Avraham--CPN