- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- 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
Asian markets tepid with eyes on China, US midterms
Asian stocks made a positive start on Wednesday following gains on Wall Street, but lost momentum as factory gate prices in China fell for the first time in nearly two years.
Shares in Tokyo, Hong Kong and Shanghai edged up at the open as votes were counted in crucial US midterm elections that will shape the political fortunes of President Joe Biden.
But they soon fell after official data from China showed the world's second-largest economy languishing under its strict zero-Covid policy.
Markets had climbed in New York and Europe on Tuesday, with Biden's Democrats facing a struggle to hang on to control of Congress, and polls predicting a Republican victory that could pave the way for a White House comeback bid by Donald Trump.
But that predicted Republican wave failed to materialise in elections fought against a backdrop of stubbornly high inflation.
By Wednesday afternoon in Asia, all eyes were on a handful of Senate races including in Georgia, Pennsylvania, Nevada, Arizona and Wisconsin, with a single seat enough to swing control of the Senate.
Market players were also awaiting key US inflation data due Thursday, causing the dollar to retreat along with the midterms as investors' risk appetite increases, analysts said.
Tokyo closed down 0.6 percent and Shanghai ended 0.5 percent lower, while Hong Kong stocks lost nearly two percent in afternoon trade after a recent run of rallies.
- 'No good news from China' -
Other Asian markets were mostly higher, with Taipei jumping 2.2 percent, Seoul gaining 1.1 percent and Singapore up 0.5 percent.
Sydney rose 0.6 percent and Bangkok lost 0.4 percent, while Jakarta was flat.
Speculation over how long Beijing will keep its harsh lockdown-and-testing Covid policies has fuelled volatility in Chinese markets, despite the government vowing it will not change course.
The restrictions have taken a toll on the economy. China's producer price index (PPI) fell by 1.3 percent on-year in October, pushing it into negative territory for the first time since December 2020.
The consumer price index (CPI) -- the main gauge for retail inflation -- rose by 2.1 percent on-year in October, moderating slightly from September's two-year high of 2.8 percent.
"The economy's slowing is confirmed by the CPI data," Iris Pang, chief economist for Greater China at ING Wholesale Banking, told AFP. "I don't see any good news from China."
Stephen Innes of SPI Asset Management agreed that the Chinese data painted "a rather gloomy picture, with PPI remaining deflationary and CPI much weaker than expected, pointing to waning demand".
Oil prices were driven lower during the day, but recovered in the afternoon.
"Rolling lockdowns in China, as Covid cases rebound, are catching oil traders leaning the wrong way," Innes said.
- Key figures around 0700 GMT -
Tokyo - Nikkei 225: DOWN 0.6 percent at 27,716.43 (close)
Hong Kong - Hang Seng Index: DOWN 1.9 percent at 16,244.91
Shanghai - Composite: DOWN 0.5 percent at 3,048.17 (close)
Pound/dollar: UP at $1.1541 from $1.1468 on Tuesday
Euro/dollar: UP at $1.0065 from $1.0005
Dollar/yen: DOWN at 145.66 yen from 146.26 yen
Euro/pound: DOWN at 87.20 pence from 87.23 pence
West Texas Intermediate: DOWN 0.1 percent at $88.82 per barrel
Brent North Sea crude: FLAT at $95.40 per barrel
New York - Dow: UP 1.0 percent at 33,160.83 (close)
London - FTSE 100: UP 0.1 percent at 7,306.14 (close)
Ng.A.Adebayo--CPN