- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
- Supercharged storms: how climate change amplifies cyclones
- Biden official urges talks as US port strike enters second day
- Huge protests in Argentina over public university cuts
- Rally in oil prices loses steam on mixed day for global stocks
- South America treated to rare 'ring of fire' eclipse
- Biden official says port strike deal not as far as parties think
- Mexico's new president offers apology for 1968 student massacre
- Historic funding round values OpenAI at $157 billion
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Boys out of critical condition after Zurich stabbings
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Asia stocks rise as Alibaba boosts tech, eases pre-Fed nerves
Asian markets rose Tuesday as an Alibaba-fuelled surge in Hong Kong provided a much-needed boost to sentiment ahead of a slew of earnings reports from the world's biggest firms and an expected Federal Reserve interest rate hike.
A shock cut in US retail titan Walmart's profit outlook fanned concerns that surging inflation and rising borrowing costs are hammering consumer spending and could send the economy into recession.
The news left markets concerned about what's to come from other Wall Street giants this week -- including Apple, Amazon, McDonald's and General Motors.
Adding to the unease was news that Russia's Gazprom will cut back gas deliveries to Germany, citing a faulty turbine, less than a week since restarting flows after 10 days of maintenance work.
But after a cautious start to the day, most Asian markets enjoyed a healthy run-up.
Hong Kong led the way in reaction to news that market heavyweight Alibaba will seek a primary listing in the city, which could pave the way for it to be traded by mainland Chinese investors.
The move from a secondary listing would come as several Chinese firms listed in the United States grow increasingly worried about a regulatory crackdown by authorities as part of a stand-off in the tech sector between Washington and Beijing.
It also further indicated the firm is more confident that a long-running period of clampdowns by China on the industry is coming to an end.
"This could boost its liquidity after a year-long sell-off triggered by China’s economic slowdown and Beijing’s crackdown on its most potent internet firms," said Stephen Innes at SPI Asset Management.
The Alibaba rally gave a boost to other tech giants with JD.com, Tencent, NetEase and Bilibili all up.
- 'Significant risks' -
A more than five percent jump in Alibaba helped the Hang Seng Index higher, while there were also gains in Shanghai, Sydney, Seoul, Singapore, Manila and Jakarta.
Tokyo, Taipei and Wellington slipped.
London opened on the front foot, though Paris and Frankfurt dipped.
Analysts were cautious about the outlook for world markets, despite a positive run-up in July.
"This is most likely a bear market rally and there are significant risks still facing this market," Katerina Simonetti, at Morgan Stanley Private Wealth Management, told Bloomberg Television.
"We're probably going to be seeing a lot of choppiness and potentially some further declines in the market before the year-end."
For now, there will be little respite for investors from the Fed as it continues to ramp up borrowing costs, with another 75 basis point lift expected this week, and more before the end of the year.
Several officials at the bank, including boss Jerome Powell, have suggested they are determined to bring inflation down from four-decade highs, even at the expense of economic growth.
Still, market strategist Louis Navellier said they could start to loosen monetary policy in the new year when the economy shows strains.
"Uncertainty is high as to the Fed's willingness to keep tightening if the economy slows significantly, with many forecasts projecting that the Fed will reverse and start cutting rates by the summer of 2023 as the economy slows and inflation wanes," he said in a note.
- Key figures at around 0720 GMT -
Tokyo - Nikkei 225: DOWN 0.2 percent at 27,655.21 (close)
Hong Kong - Hang Seng Index: UP 1.8 percent at 20,942.31
Shanghai - Composite: UP 0.8 percent at 3,277.44 (close)
London - FTSE 100: UP 0.3 percent at 7,328.78
Euro/dollar: UP at $1.0229 from $1.0223 Monday
Pound/dollar: UP at $1.2066 from $1.2046
Euro/pound: DOWN at 84.77 pence from 84.83 pence
Dollar/yen: UP at 136.68 yen from 136.65 yen
West Texas Intermediate: UP 1.6 percent at $98.24 per barrel
Brent North Sea crude: UP 1.7 percent at $106.90 per barrel
New York - Dow: UP 0.3 percent at 31,990.04 (close)
P.Schmidt--CPN