- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- 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
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Asian markets rally on healthy US data, post-Pelosi relief
Asian markets on Thursday tracked a Wall Street rally fuelled by healthy economic and earnings data, while there was some relief that Nancy Pelosi's Taiwan trip did not elicit a harsher response from China despite grave warnings from Beijing.
Oil managed to clock up some gains following another sell-off that came on the back of fresh signs of weakening demand in the United States, which came as major producers announced an increase in output, albeit a small one.
New York's three main indexes surged after a report on the crucial US services sector showed surprise improvement, soothing worries about a possible recession in the world's top economy.
That came as several companies -- including Electronic Arts, Starbucks and Moderna -- posted strong earnings, extending a broadly positive reporting season in the face of surging inflation and rising interest rates.
All eyes are now on the release of US jobs data Friday, which will provide the latest snapshot of the economy and could help guide the Federal Reserve in its debate on monetary policy.
Markets have swung this week after a number of Fed officials lined up to suggest there were still some big rate hikes likely and talk of cuts next year might be overdone.
That came after comments last week from bank chief Jerome Powell indicated that the policy board could start easing up on its tightening campaign.
"Following last week's Fed meeting that opened up the possibility of a slower hiking pace, markets are still running 'risk-on' despite the recent push back from Fed officials," said SPI Asset Management's Stephen Innes.
"But for stock investors, lower oil prices are a pleasure to behold as not only did the US 10-year yields drop but sliding oil prices also downshifted inflation expectations, supporting that slower hiking pace thesis."
Both main oil contracts edged up Thursday, a day after prices tumbled to a six-month low as a spike in US inventories showed demand waning, while figures showed Americans driving less than summer 2022 when travel was smashed by Covid-19.
Crude has now given up all the gains seen in the aftermath of Russia's invasion of Ukraine, though the 100,000 barrel output increase by OPEC+ was brushed off by investors as too little to make an impact.
The mood in Asia was also a lot more settled after the upheaval of this week's visit to Taiwan by House Speaker Pelosi, which sparked outrage in China with warnings of stern military and economic responses.
While Beijing suspended a limited amount of cross-strait imports and exports and embarked on its largest-ever military exercises encircling Taiwan, Asian investors felt a sense of relief it did not go further.
Hong Kong led gains, adding more than two percent, while there were also advances in Shanghai, Tokyo, Sydney, Seoul, Jakarta and Wellington.
However, Taipei fell again on worries that the Chinese manoeuvres would hit shipping lanes and flights into Taiwan.
Singapore and Manila also dipped.
Pelosi's trip managed to further strain already-fraught China-US relations, and markets strategist Louis Navellier said "it will be interesting if China retaliates against any US companies or restricts trade in any manner".
- Key figures at around 0230 GMT -
Tokyo - Nikkei 225: UP 0.5 percent at 27,892.68 (break)
Hong Kong - Hang Seng Index: UP 2.1 percent at 20,182.31
Shanghai - Composite: UP 0.8 percent at 3,188.86
Dollar/yen: DOWN at 133.70 yen from 133.92 yen Wednesday
Euro/dollar: DOWN at $1.0166 from $1.0172
Pound/dollar: UP at $1.2151 from $1.2149
Euro/pound: DOWN at 83.67 pence from 83.71 pence
West Texas Intermediate: UP 0.6 percent at $91.19 per barrel
Brent North Sea crude: UP 0.5 percent at $97.29 per barrel
New York - Dow: UP 1.3 percent at 32,812.50 (close)
London - FTSE 100: UP 0.5 percent at 7,445.68 (close)
M.P.Jacobs--CPN