- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- 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
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Asian markets drop on rate worries ahead of inflation data
Asian equities fell Wednesday, tracking a drop on Wall Street ahead of a crucial US inflation report later in the day, which could have a huge bearing on the Federal Reserve's plans for raising interest rates.
Investors are preparing for the consumer price figures with a sense of dread as analysts warn a forecast-beating reading would ramp up bets on another big Federal Reserve hike and reinforce recession expectations.
The US central bank has said its decision on when and by how much to tighten monetary policy will be driven by data as it struggles to walk a fine line between bringing inflation down from four-decade highs and trying not to damage the economy.
There had been hope that recent indicators showing activity slowing would give the Fed room to be less hawkish. But a bigger-than-predicted jump in jobs last month revived talk of a third straight three-quarter-point hike in September.
"The (Fed policy board) will need to make sure inflation moves back towards target sustainably before contemplating pausing its tightening cycle," Carol Kong, of Commonwealth Bank of Australia, said.
"A strong inflation outcome today will likely reinforce the (board) is still some way away from that point yet, and see markets readjust higher their expectations for US interest rates."
Wednesday's figures come at a sensitive time for world markets, which have been buffeted by a range of other issues including the war in Ukraine, supply chain snarls and rising China-US tensions over Taiwan.
While the latest earning season has been less painful than feared, there are increasing signs that the economic slowdown is beginning to impact companies, with some major firms -- including Apple and Amazon -- providing downbeat outlooks.
Chip-maker Micron became the latest, saying revenue would likely come in at the low end of its forecasts in the fourth quarter owing to weak demand. That came a day after rival Nvidia unveiled disappointing results.
Tech firms led losses in New York, with the Nasdaq off more than one percent, and they did so in early Asian trade.
Hong Kong, Shanghai, Tokyo, Sydney, Seoul, Wellington, Taipei, Manila and Jakarta were all well down.
There was little initial reaction to news that China's consumer price index rose last month to a two-year high but came in below expectations.
Oil prices were flat but remained around six-month lows, even after news that supplies from Russia to three European countries through Ukraine had been halted as sanctions prohibited the processing of the transit payment.
The cost of the commodity has essentially wiped out all the gains seen since Russia's invasion of its neighbour in February as expectations of a recession hit demand forecasts, while consumers are put off buying petrol owing to rising prices.
But OANDA's Edward Moya said the market would not likely weaken further.
"Whatever crude demand destruction that occurs from a weakening global economy won't be able to drag down oil prices much lower given how low the supply outlook remains," he said in a note.
- Key figures at around 0230 GMT -
Tokyo - Nikkei 225: DOWN 0.8 percent at 27,767.07 (break)
Hong Kong - Hang Seng Index: DOWN 1.6 percent at 19,687.72
Shanghai - Composite: DOWN 0.4 percent at 3,233.24
Euro/dollar: UP at $1.0215 from $1.0213 Tuesday
Pound/dollar: UP at $1.2081 from $1.2071
Euro/pound: DOWN at 84.55 pence from 84.57 pence
Dollar/yen: DOWN at 135.06 yen from 135.12 yen
West Texas Intermediate: DOWN 0.1 percent at $90.45 per barrel
Brent North Sea crude: UP 0.1 percent at $96.39 per barrel
New York - Dow: DOWN 0.2 percent at 32,774.41 (close)
London - FTSE 100: UP 0.1 percent at 7,488.15 (close)
Y.Uduike--CPN